Raymond James Financial Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Key Points

• Raymond James raised its price target on Suncor from C$76.00 to C$93.00, a level that implies only about a 0.81% upside from the current share price.
• Several other Canadian banks (Desjardins, TD, CIBC, BMO, National Bank) have also lifted targets recently; analyst consensus is a Moderate Buy with an average price target of C$78.79 (six Buys, four Holds).
• Suncor shares traded at C$92.25 (near a one-year high of C$94.34) and the company reports a market cap of C$109.49B, a P/E of ~19 and quarterly results of C$1.10 EPS on C$12.04B revenue.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target increased by analysts at Raymond James Financial from C$76.00 to C$93.00 in a research note issued to investors on Monday,BayStreet.CA reports. Raymond James Financial's price objective would suggest a potential upside of 0.81% from the company's current price.

A number of other equities analysts have also issued reports on SU. Desjardins increased their target price on shares of Suncor Energy from C$79.00 to C$85.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. TD Securities lifted their target price on Suncor Energy from C$74.00 to C$81.00 in a report on Wednesday, February 4th. Canadian Imperial Bank of Commerce upped their target price on Suncor Energy from C$70.00 to C$88.00 in a report on Monday, March 2nd. BMO Capital Markets boosted their price objective on Suncor Energy from C$69.00 to C$85.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Finally, National Bank Financial raised their target price on shares of Suncor Energy from C$72.00 to C$85.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$78.79.

Suncor Energy Stock Performance

Shares of TSE SU traded down C$0.25 during trading on Monday, reaching C$92.25. The stock had a trading volume of 2,141,272 shares, compared to its average volume of 7,539,370. The company has a debt-to-equity ratio of 40.74, a quick ratio of 0.83 and a current ratio of 1.39. The stock has a market cap of C$109.49 billion, a PE ratio of 19.02, a P/E/G ratio of 0.15 and a beta of 0.75. Suncor Energy has a one year low of C$43.59 and a one year high of C$94.34. The firm's 50 day moving average price is C$77.38 and its two-hundred day moving average price is C$65.89.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last released its earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share for the quarter. The firm had revenue of C$12.04 billion during the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. On average, research analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

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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