Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
CIBC Canadian energy analyst Dennis Fong provided his top picks in the sector,
“Energy stocks performed modestly well in 2023, beating the S&P/TSX Composite Index return by 1 per cent despite recessionary concerns impacting energy pricing. Sector balance sheets have been repaired, and are in a good position to navigate weaker commodity prices through 2024. Fears of a recession have kept a ceiling on oil prices, despite the risk of supply interruptions resulting from increased tensions in the Middle East, and continued sanctions against Russia … We hold a stronger bias for liquids over natural gas for 2024. Our top ideas for 2024 include ARX [Arc Resources Ltd.], CVE [Cenovus Energy Inc.], and SU [ Suncor Energy Inc.] for large-cap E&Ps and KEL [Kelt Exploration Ltd.] and LGN [Logan Energy Corp.] for small‑cap E&Ps”
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There are few…
