buy & Hold Suncor- pullback on the chartsi think all of u would agree with me that suncor has been downplayed by all the major funds and asset management companies- we all know who they are- its been 3 quarters for the company struggling with many challenges including pandemic, the fire, media, rclean energy and so on....
now question is almost every oil and gas company was facing the same problems more or less.
check out their prices now compared to when they were in march 2020.
suncor though has not moved because of all the media negative rumours.
i trust suncor a bounce back is a must and for various reasons:
current high Brent WCSand WTI price support.
company has already ventured into solar and wind energy- good transition there
500 million share repurc hase program in 2021- u don't repurchase ur copany shares until u have faith in your business
expecting to reduce debt between $500 million to 1 billion.
10% increase expected in upstream between 7,40,00 to 7,80,00 boe/d
these are just a few factors which put my faith in this candian oil giant..
its time to buy and hold....sit on it just this year and u will see the same media analysts changing their language in favor..
good luck!!!