Desjardins Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Key Points

• Desjardins raised its price target for Suncor Energy from C$110 to C$117 and maintained a “buy” rating, implying 6.5% potential upside from the cited share price.
• Analyst sentiment remains broadly positive, with one “strong buy,” eight “buy,” and three “hold” ratings; the consensus rating is “Moderate Buy,” with an average price target of C$102.12.
• Suncor reported C$3.23 in quarterly EPS on C$17.50 billion in revenue, while shares recently traded at C$109.86 near their 52-week high of C$112.04. Insiders have sold 79,792 shares worth approximately C$7.3 million over the past quarter.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price objective increased by research analysts at Desjardins from C$110.00 to C$117.00 in a research note issued to investors on Tuesday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Desjardins' target price points to a potential upside of 6.50% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. TD boosted their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. ATB Cormark Capital Markets upped their price objective on shares of Suncor Energy from C$108.00 to C$110.00 and gave the company an "outperform" rating in a report on Tuesday, October 6th. National Bank Financial cut their target price on shares of Suncor Energy from C$146.00 to C$145.00 and set an "outperform" rating for the company in a research report on Tuesday. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. Finally, BMO Capital Markets lifted their target price on shares of Suncor Energy from C$100.00 to C$105.00 in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$102.12.

Suncor Energy Stock Performance

Shares of SU traded down C$0.77 during mid-day trading on Tuesday, hitting C$109.86. The stock had a trading volume of 1,110,626 shares, compared to its average volume of 6,162,521. The firm has a market cap of C$128.50 billion, a P/E ratio of 14.67, a PEG ratio of 0.15 and a beta of 0.18. The business has a fifty day moving average price of C$96.47 and a 200-day moving average price of C$90.47. The company has a debt-to-equity ratio of 30.48, a current ratio of 1.65 and a quick ratio of 0.83. Suncor Energy has a 52 week low of C$53.02 and a 52 week high of C$112.04.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 EPS for the quarter. The firm had revenue of C$17.50 billion for the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. On average, equities research analysts expect that Suncor Energy will post 4.42 EPS for the current year.

Insider Activity

In other news, insider Adam Husain Albeldawi sold 1,173 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of C$95.01, for a total value of C$111,446.73. Also, insider David Jason Oldreive sold 5,000 shares of the firm's stock in a transaction on Monday, September 14th. The stock was sold at an average price of C$98.00, for a total value of C$490,000.00. Over the last quarter, insiders have sold 79,792 shares of company stock valued at $7,294,928. 0.01% of the stock is currently owned by corporate insiders.

Suncor Energy Company Profile

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

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