CIBC Increases Suncor Energy (TSE:SU) Price Target to C$48.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective raised by stock analysts at CIBC from C$44.00 to C$48.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price would suggest a potential upside of 40.39% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a C$4.20 price objective on shares of Suncor Energy in a research report on Friday, October 29th. JPMorgan Chase & Co. raised shares of Suncor Energy to a “buy” rating and set a C$38.00 price objective for the company in a research report on Thursday, October 28th. TD Securities lifted their price objective on shares of Suncor Energy from C$39.00 to C$40.00 and gave the stock a “buy” rating in a research report on Thursday, October 28th. Credit Suisse Group lifted their price objective on shares of Suncor Energy to C$42.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 2nd. Finally, ATB Capital reaffirmed a “sector perform” rating and set a C$33.00 price objective on shares of Suncor Energy in a research report on Wednesday, October 27th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$35.49.

Shares of SU traded up C$0.45 during mid-day trading on Thursday, reaching C$34.19. The company’s stock had a trading volume of 2,178,247 shares, compared to its average volume of 9,218,694. The company has a current ratio of 0.99, a quick ratio of 0.58 and a debt-to-equity ratio of 52.29. Suncor Energy has a 1-year low of C$20.29 and a 1-year high of C$34.35. The business has a 50-day simple moving average of C$28.37 and a two-hundred day simple moving average of C$27.62. The stock has a market cap of C$49.82 billion and a P/E ratio of 21.49.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Wednesday, October 27th. The company reported C$0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.73 by C($0.02). The business had revenue of C$10.21 billion during the quarter, compared to analyst estimates of C$11.44 billion. Research analysts anticipate that Suncor Energy will post 4.0400001 EPS for the current year.

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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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