Canadian Oil Cos. Jump On Oil's Rise, Goldman View

NEW YORK (AP) — Shares of Canadian oil companies climbed on Friday as crude prices rose and an analyst raised price targets for Canadian oil stocks on expectations that oil prices will rebound and operating and capital costs in Canada's oil sands region will decline.

Crude oil prices increased $1.78, or 3.5 percent, to $52.90 in afternoon trading.

Goldman Sachs analyst Arjun Murti upgraded Suncor Energy Inc. to "Buy" from "Sell" and added it to Goldman's "Conviction Buy List." He also upgraded shares of Petro-Canada to "Buy" from "Sell," given its pending merger with Suncor. ...