Suncor Energy (TSE:SU) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its price target on Suncor to C$100 (from C$89) and kept an "outperform" rating, implying about a 12.57% upside
• Suncor shares closed at C$88.83 (down C$3.96) with a market cap of C$105.43B and a P/E of 18.32; technicals show a 50-day average of C$80.49, 200-day average of C$67.54, and a 1‑year range of C$43.59–C$94.34.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target hoisted by Royal Bank Of Canada from C$89.00 to C$100.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 12.57% from the stock's current price.

A number of other equities analysts have also commented on SU. Canadian Imperial Bank of Commerce increased their price target on shares of Suncor Energy from C$88.00 to C$92.00 in a report on Thursday, April 2nd. Wells Fargo & Company increased their price target on shares of Suncor Energy from C$74.00 to C$97.00 in a report on Wednesday, April 1st. Raymond James Financial increased their price target on shares of Suncor Energy from C$76.00 to C$93.00 in a report on Monday, March 30th. Jefferies Financial Group increased their price target on shares of Suncor Energy from C$66.00 to C$82.00 in a report on Monday, March 16th. Finally, TD Securities increased their price target on shares of Suncor Energy from C$81.00 to C$91.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$88.93.

Suncor Energy Stock Performance

Shares of SU stock traded down C$3.96 during trading on Wednesday, reaching C$88.83. 2,089,057 shares of the company's stock traded hands, compared to its average volume of 7,384,844. The company has a market capitalization of C$105.43 billion, a P/E ratio of 18.32, a PEG ratio of 0.15 and a beta of 0.23. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74. The firm's 50-day moving average is C$80.49 and its 200 day moving average is C$67.54. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$94.34.

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