Suncor Energy (TSE:SU) Price Target Raised to C$56.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by investment analysts at Raymond James from C$52.00 to C$56.00 in a research note issued on Thursday,BayStreet.CA reports. Raymond James’ target price indicates a potential downside of 1.75% from the company’s current price. Raymond James also issued estimates for Suncor Energy’s FY2024 earnings at $5.29 EPS, FY2025 earnings at $4.86 EPS and FY2028 earnings at $4.51 EPS.

Several other research analysts have also recently weighed in on SU. Scotiabank lifted their price target on shares of Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday. Royal Bank of Canada lifted their price objective on Suncor Energy from C$64.00 to C$66.00 in a research report on Thursday. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective for the company in a research note on Wednesday, August 7th. Jefferies Financial Group decreased their target price on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, Desjardins upped their price target on shares of Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$61.54.

Suncor Energy Stock Up 0.3 %

SU stock opened at C$57.00 on Thursday. Suncor Energy has a fifty-two week low of C$40.07 and a fifty-two week high of C$57.50. The company has a market cap of C$72.39 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. The business’s 50-day moving average is C$52.61 and its two-hundred day moving average is C$53.10.

Insider Transactions at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.