Suncor Energy (TSE:SU) Given a C$107.00 Price Target by Desjardins Analysts

Key Points

• Desjardins initiated coverage on Suncor Energy with a C$107.00 price target and a buy rating, implying about 22.66% upside from the prior close.
• Several other analysts have also turned more constructive, with multiple price-target increases and the stock carrying a Moderate Buy consensus and an average target price of C$95.62.
• Suncor Energy shares were up 2.3% to C$87.23 in Friday trading, while the company recently reported C$1.93 EPS and C$14.48 billion in quarterly revenue.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU received a C$107.00 price objective from equities researchers at Desjardins in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' target price suggests a potential upside of 22.66% from the stock's previous close.

Several other analysts also recently commented on the stock. Scotia raised their target price on shares of Suncor Energy from C$85.00 to C$90.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 21st. Wells Fargo & Company upped their price target on shares of Suncor Energy from C$74.00 to C$97.00 in a report on Wednesday, April 1st. National Bank Financial increased their price objective on shares of Suncor Energy from C$85.00 to C$118.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. Royal Bank Of Canada raised their price objective on shares of Suncor Energy from C$89.00 to C$100.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Finally, TD Securities boosted their price objective on shares of Suncor Energy from C$81.00 to C$91.00 and gave the company a "buy" rating in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average target price of C$95.62.

Suncor Energy Trading Up 2.3%

Suncor Energy stock traded up C$1.94 during mid-day trading on Friday, hitting C$87.23. 924,532 shares of the company's stock were exchanged, compared to its average volume of 6,562,030. The company's 50 day simple moving average is C$85.30 and its 200-day simple moving average is C$80.98. The company has a quick ratio of 0.83, a current ratio of 1.42 and a debt-to-equity ratio of 32.36. The firm has a market capitalization of C$103.00 billion, a P/E ratio of 16.58, a PEG ratio of 0.15 and a beta of 0.17. Suncor Energy has a fifty-two week low of C$52.75 and a fifty-two week high of C$96.53.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$1.93 earnings per share (EPS) for the quarter. The company had revenue of C$14.48 billion during the quarter. Suncor Energy had a return on equity of 14.01% and a net margin of 12.17%. On average, equities analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current 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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