Suncor Energy Inc. (TSE:SU) Price Target Raised to C$50.00

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its target price raised by stock analysts at Barclays PLC from C$49.00 to C$50.00 in a report issued on Friday, October 27th. Barclays PLC’s price objective indicates a potential upside of 8.25% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. National Bank Financial decreased their target price on shares of Suncor Energy from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a report on Friday, October 13th. TD Securities upped their price objective on shares of Suncor Energy from C$49.00 to C$50.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. CIBC upped their price objective on shares of Suncor Energy from C$50.00 to C$53.00 in a report on Tuesday, October 17th. Royal Bank of Canada upped their price objective on shares of Suncor Energy from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, J P Morgan Chase & Co upped their target price on shares of Suncor Energy from C$39.00 to C$42.00 in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of C$49.17.

Shares of Suncor Energy (SU) opened at C$46.19 on Friday. Suncor Energy has a one year low of C$36.09 and a one year high of C$46.24.

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In related news, insider Michael Roderick Macsween sold 55,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total transaction of C$2,530,000.00. Also, insider Mark Stephen Little sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of C$45.51, for a total transaction of C$45,510.00. Over the last ninety days, insiders purchased 3,539 shares of company stock worth $146,553 and sold 76,000 shares worth $3,435,510.

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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