Suncor Energy Inc. (SU) PT Raised to C$53.00 at CIBC

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its target price raised by equities research analysts at CIBC from C$50.00 to C$53.00 in a report released on Tuesday. CIBC’s price objective suggests a potential upside of 25.95% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. National Bank Financial set a C$51.00 price objective on shares of Suncor Energy and gave the stock an “outperform” rating in a report on Tuesday, June 27th. TD Securities dropped their price objective on shares of Suncor Energy from C$46.00 to C$45.00 and set a “buy” rating for the company in a report on Thursday, July 27th. J P Morgan Chase & Co lifted their price objective on shares of Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. Finally, Barclays PLC lifted their price objective on shares of Suncor Energy from C$47.00 to C$49.00 in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Suncor Energy presently has a consensus rating of “Buy” and an average target price of C$48.92.

Shares of Suncor Energy (SU) opened at 42.08 on Tuesday. Suncor Energy has a 1-year low of $36.09 and a 1-year high of $44.90. The firm’s 50-day moving average price is $41.83 and its 200 day moving average price is $40.83. The company has a market capitalization of $69.83 billion and a PE ratio of 26.04.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Wednesday, July 26th. The company reported C$0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.23 by C($0.11). Suncor Energy had a net margin of 6.00% and a return on equity of 3.86%. The firm had revenue of C$7.26 billion during the quarter, compared to the consensus estimate of C$7.41 billion. Equities analysts predict that Suncor Energy will post $1.30 EPS for the current fiscal year.

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In related news, insider Steven Walter Williams purchased 1,000 shares of Suncor Energy stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average price of C$39.39 per share, for a total transaction of C$39,390.00. Also, insider Michael Roderick Macsween sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of C$43.00, for a total transaction of C$860,000.00.

About Suncor Energy

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (TSE:SU)

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