BMO Capital Markets Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Key Points

• BMO Capital Markets raised its price target for Suncor Energy from C$100 to C$105, implying 18.1% upside from the stock’s reported C$88.91 price.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average target price of C$96.19; targets from other firms range as high as C$116.
• Suncor reported quarterly earnings of C$3.17 per share on C$17.50 billion in revenue, while the stock remains below its 12-month high of C$96.53 but above its 50- and 200-day moving averages.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target lifted by equities researchers at BMO Capital Markets from C$100.00 to C$105.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets' price target indicates a potential upside of 18.10% from the stock's current price.

Several other equities analysts also recently issued reports on the company. Desjardins set a C$107.00 price objective on Suncor Energy and gave the stock a "buy" rating in a research report on Friday, July 17th. TD raised their target price on Suncor Energy from C$113.00 to C$116.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Gerdes Energy Research downgraded Suncor Energy from a "buy" rating to a "neutral" rating and lifted their target price for the company from C$96.00 to C$97.00 in a research note on Wednesday, July 22nd. Scotia boosted their price target on Suncor Energy from C$85.00 to C$90.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. increased their price target on Suncor Energy from C$105.00 to C$106.00 in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and a consensus target price of C$96.19.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded down C$1.88 during trading on Wednesday, hitting C$88.91. 1,828,573 shares of the stock were exchanged, compared to its average volume of 6,294,596. The stock's fifty day moving average is C$85.18 and its 200 day moving average is C$83.57. The stock has a market cap of C$104.98 billion, a PE ratio of 16.90, a P/E/G ratio of 0.15 and a beta of 0.17. The company has a debt-to-equity ratio of 32.36, a quick ratio of 0.83 and a current ratio of 1.42. Suncor Energy has a 12 month low of C$52.95 and a 12 month high of C$96.53.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last released its quarterly earnings data on Tuesday, August 4th. The company reported C$3.17 earnings per share for the quarter. The business had revenue of C$17.50 billion for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. As a group, sell-side analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current year.

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. 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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