Suncor Energy (TSE:SU) Price Target Raised to C$63.00

Key Points

• TD Securities has increased the target price for Suncor Energy from C$62.00 to C$63.00, signaling a potential upside of 17.25% from the current price.
• Other analysts have mixed ratings, with four holding, seven buying, and one giving a strong buy, leading to an average rating of "Moderate Buy" with a consensus target price of C$62.25.
• Suncor Energy's most recent earnings report showed an EPS of C$0.71 and a net margin of 15.15%, indicating solid financial performance.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price hoisted by investment analysts at TD Securities from C$62.00 to C$63.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' target price indicates a potential upside of 17.25% from the stock's current price.

Several other analysts also recently commented on the stock. Desjardins reduced their price objective on shares of Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Wells Fargo & Company lifted their price target on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group lifted their price target on shares of Suncor Energy from C$48.00 to C$53.00 in a research report on Monday, July 14th. Finally, Raymond James Financial lifted their price target on shares of Suncor Energy from C$54.00 to C$56.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$62.25.

Suncor Energy Price Performance

Shares of SU stock traded down C$0.32 on Wednesday, reaching C$53.73. The company had a trading volume of 1,959,925 shares, compared to its average volume of 7,936,349. The stock has a market capitalization of C$67.39 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. Suncor Energy has a one year low of C$43.59 and a one year high of C$58.58. The business's 50-day moving average is C$52.88 and its 200 day moving average is C$52.31.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued its quarterly earnings data on Tuesday, August 5th. The company reported C$0.71 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. Equities research analysts forecast that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total value of C$1,432,478.57. Also, Director Russell Girling purchased 10,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average cost of C$50.41 per share, for a total transaction of C$504,100.00. Insiders own 0.01% of the company's stock.

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.

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