Scotia Boosts Suncor Energy (TSE:SU) Price Target to C$90.00

Key Points

• Scotia raised its price target on Suncor to C$90.00 (from C$85.00) with a "sector perform" rating, implying about a 5.56% upside from the prior close.
• Multiple brokers have upgraded targets (e.g., RBC to C$100, JPMorgan to C$105), leaving a consensus rating of Moderate Buy with an average target of C$93.06 and eight buys versus three holds.
• Suncor traded at C$85.26 mid-day with a market cap of C$101.2B, a P/E of 17.58 and a 52‑week range of C$46.34–C$94.34, while recent quarterly EPS was C$1.10 on C$12.04B revenue.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price objective upped by Scotia from C$85.00 to C$90.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotia's price objective indicates a potential upside of 5.56% from the company's previous close.

SU has been the topic of several other research reports. Desjardins raised their price target on Suncor Energy from C$79.00 to C$85.00 and gave the stock a "buy" rating in a report on Thursday, February 5th. Royal Bank Of Canada raised their price target on Suncor Energy from C$89.00 to C$100.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. raised their price target on Suncor Energy from C$79.00 to C$105.00 in a report on Tuesday, April 14th. TD Securities raised their price target on Suncor Energy from C$81.00 to C$91.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. Finally, ATB Cormark Capital Markets raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$93.06.

Suncor Energy Stock Performance

Shares of SU traded up C$1.15 during mid-day trading on Tuesday, hitting C$85.26. The stock had a trading volume of 1,411,333 shares, compared to its average volume of 6,977,296. The company has a market cap of C$101.20 billion, a PE ratio of 17.58, a PEG ratio of 0.15 and a beta of 0.23. The company's fifty day simple moving average is C$83.12 and its two-hundred day simple moving average is C$69.36. The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 40.74. Suncor Energy has a fifty-two week low of C$46.34 and a fifty-two week high of C$94.34.

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