Desjardins Cuts Suncor Energy (TSE:SU) Price Target to C$65.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective cut by equities research analysts at Desjardins from C$68.50 to C$65.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective would suggest a potential upside of 20.37% from the stock’s previous close.

Several other brokerages have also recently issued reports on SU. Gerdes Energy Research set a C$69.00 price target on Suncor Energy and gave the company a “buy” rating in a research report on Monday, November 25th. Jefferies Financial Group lifted their price target on Suncor Energy from C$58.00 to C$59.00 in a research report on Monday, February 24th. Wells Fargo & Company lowered their price target on Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Royal Bank of Canada lowered their price target on Suncor Energy from C$66.00 to C$65.00 in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price target on Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.96.

Suncor Energy Stock Up 0.6 %

Shares of SU stock opened at C$54.00 on Wednesday. Suncor Energy has a 1 year low of C$48.41 and a 1 year high of C$58.58. The stock has a market cap of C$67.73 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The business’s fifty day moving average is C$54.93 and its 200-day moving average is C$53.77. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.