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A pedestrian is reflected in a Suncor Energy sign in Calgary.
A pedestrian is reflected in a Suncor Energy sign in Calgary.
(JEFF McINTOSH/THE CANADIAN PRESS)

Tuesday's analyst upgrades and downgrades

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

Stifel Nicolaus analyst Amir Arif upgraded Suncor Energy Inc. to "buy" from "hold" and set a new price target of $48 (U.S.).

He expects improved operating results in the second half of the year from Suncor, alongside higher positive free cash flow that could be used for further buybacks and dividend hikes.