Suncor's stock to climb, if company follows activist path: analysts
Posted: Sat Apr 30, 2022 9:29 pm
https://ca.finance.yahoo.com/news/sunco ... 34245.html
Suncor Energy's (SU.TO)(SU) management has "a lot of common ground" with the American activist investor pushing for changes at the Canadian energy giant. That's according to analysts who say the situation could ultimately lift the company's lagging stock.
Florida-based Elliott Investment Management published an open letter to Suncor's board on Thursday. In it, Elliott partner John Pike and portfolio manager Mike Tomkins describe a "slow-moving, overly bureaucratic corporate culture that appears to have lost the dynamism that not long ago made Suncor the most valuable energy company in Canada."
Suncor Energy's (SU.TO)(SU) management has "a lot of common ground" with the American activist investor pushing for changes at the Canadian energy giant. That's according to analysts who say the situation could ultimately lift the company's lagging stock.
Florida-based Elliott Investment Management published an open letter to Suncor's board on Thursday. In it, Elliott partner John Pike and portfolio manager Mike Tomkins describe a "slow-moving, overly bureaucratic corporate culture that appears to have lost the dynamism that not long ago made Suncor the most valuable energy company in Canada."