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Oil Sands Win Wall Street Favor After Years in Shale Shadow
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Oil Sands Winning Praise from Wall Street
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Wall Street favor shifting from U.S. shale to Canadian oil sands By Robert Tuttle and Michael Bellusci on 12/14/2020
CALGARY (Bloomberg) After years in the shadow of the U.S. shale boom, the Canadian oil sands are emerging from 2020âs historic market crash with a slew of upbeat outlooks from Wall Street equity analysts.
Morgan Stanley and Goldman Sachs Group Inc. are the latest firms to point out the industryâs ability to generate healthy cash flow next year as a reason to buy stocks like Suncor Energy Inc., Canadian Natural Resources Ltd. and MEG Energy Corp. That follows similar reports from BofA Securities and BMO Capital Markets.