Suncor Energy (SU) Price Target Raised to C$56.00 at CSFB

Suncor Energy (TSE:SU) (NYSE:SU) had its price target hoisted by equities research analysts at CSFB from C$51.00 to C$56.00 in a note issued to investors on Friday. CSFB’s target price indicates a potential upside of 17.35% from the company’s current price.

Several other analysts also recently commented on SU. Wells Fargo raised their price objective on Suncor Energy from C$60.00 to C$63.00 in a research note on Thursday. Barclays raised their price objective on Suncor Energy from C$50.00 to C$52.00 in a research note on Friday, February 9th. Royal Bank of Canada raised their price objective on Suncor Energy from C$49.00 to C$52.00 in a research note on Friday, February 9th. AltaCorp Capital raised Suncor Energy from a “sector perform” rating to an “outperform” rating in a research note on Thursday, March 22nd. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating and set a C$52.00 price objective on the stock in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of C$52.15.

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SU stock opened at C$47.72 on Friday. Suncor Energy has a twelve month low of C$36.09 and a twelve month high of C$47.94.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Thursday, February 8th. The company reported C$0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.68 by C$0.11. The company had revenue of C$9.04 billion for the quarter, compared to the consensus estimate of C$8 billion. Suncor Energy had a return on equity of 12.21% and a net margin of 15.36%.

In other Suncor Energy news, insider Steven Walter Williams sold 800 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of C$44.03, for a total transaction of C$35,224.00. Also, Director Dennis Michael Houston bought 5,000 shares of the stock in a transaction on Wednesday, March 14th. The shares were purchased at an average price of C$32.47 per share, with a total value of C$162,350.00.

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About Suncor Energy

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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