TD Securities Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Key Points

• TD Securities raised its target on Suncor to C$73 (from C$71) and keeps a "buy" rating, implying about a 19.44% upside from the prior close.
• The analyst consensus is a "Moderate Buy" with an average target of C$65.77, and several brokers have recently bumped targets (highest cited: Gerdes Energy Research to C$78), while ratings range from Strong Buy to Hold.
• Suncor shares traded at C$61.12 (market cap ~C$73.4B, P/E 14.25); insider Kristopher Peter Smith sold 112,600 shares (~C$6.95M), reducing his stake by 69.9%.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price boosted by TD Securities from C$71.00 to C$73.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' target price suggests a potential upside of 19.44% from the stock's previous close.

A number of other brokerages have also recently commented on SU. Gerdes Energy Research upped their price target on shares of Suncor Energy from C$75.00 to C$78.00 in a research report on Monday, November 10th. Wells Fargo & Company set a C$57.00 price target on shares of Suncor Energy and gave the company an "equal weight" rating in a research report on Friday, October 17th. Royal Bank Of Canada upped their target price on shares of Suncor Energy from C$62.00 to C$67.00 and gave the stock an "outperform" rating in a report on Tuesday, October 7th. Jefferies Financial Group boosted their price target on shares of Suncor Energy from C$53.00 to C$57.00 in a research report on Monday, August 18th. Finally, UBS Group increased their price objective on Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and a consensus target price of C$65.77.

Suncor Energy Trading Up 0.2%

Shares of SU traded up C$0.14 on Friday, reaching C$61.12. 909,771 shares of the company's stock were exchanged, compared to its average volume of 7,910,735. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$64.14. The business has a 50 day moving average price of C$58.89 and a two-hundred day moving average price of C$55.93. The stock has a market capitalization of C$73.42 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.15 and a beta of 0.75.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 EPS for the quarter. The firm had revenue of C$12.55 billion during the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. Research analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current year.

Insider Activity at Suncor Energy

In other news, insider Kristopher Peter Smith sold 112,600 shares of the business's stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the sale, the insider directly owned 48,482 shares of the company's stock, valued at C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. 0.01% of the stock is owned by insiders.

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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