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森科能源(Suncor Energy)第一季業績公佈後，TPH維持「買進」評等；目標價為105.00加幣。

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-- 週三，Tudor, Pickering, Holt 維持對森科能源 (Suncor Energy，股票代碼：SU.TO, SU) 的「買入」評級，目標價為 105.00 加幣。此前，這家石油生產商和煉油商公佈了第一季業績。 「Suncor第一季各項業績均超出預期，下游業務吞吐量/產品銷售額的成長是推動調整後營運資金(AFFO)優於市場普遍預期的主要因素，而優於預期的資本支出也進一步支撐了自由現金流(FCF)的強勁成長。 PHe/市場預期為11.9億加元/12.2億加元），這兩個指標共同推動了FCF的超預期增長（29.1億加元，而TPHe/市場預期為27.6億加元/26.9億加元）。預期主要歸功於下游業務的顯著成長，其吞吐量達到49.8萬桶/日，遠高於TPHe/市場預期的47.7萬桶/日，相當於新重估的51.1萬桶/日額定產能的97%利用率；調整後營運資金(AFFO) 為 19.8 億加元，略高於 TPHe 的 18.7 億加元，但遠高於市場預期的 16.1 億加元。 79.9 萬桶/日，而 TPHe 為 80.5 萬桶/日，Syncrude 的維護抵消了 Fort Hills 創紀錄的產量；AFFO 為 28.9 億加元，TPHe 和市場預期分別為 29.4 億加元/28.3 億加元。和市場預期分別為 7,500 萬桶/日和 6,200 萬桶/日；AFFO 為 5.6 億加元，TPHe 和市場預期分別為 4.1 億加元/3.5 億加元。 （報告北美、亞洲和歐洲主要銀行及研究機構的股票、商品和經濟研究。研究機構可透過以下連結聯絡我們：https://www..com/contact-us）

Price: $88.79, Change: $-6.26, Percent Change: -6.59%

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