Suncor Energy (TSE:SU) Price Target Raised to C$48.00 at CIBC

Suncor Energy (TSE:SU) (NYSE:SU) had its price target raised by equities research analysts at CIBC from C$44.00 to C$48.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 40.56% from the stock’s current price.

Several other equities analysts have also issued reports on the company. UBS Group raised their price objective on Suncor Energy from C$46.00 to C$52.00 and gave the stock a “buy” rating in a report on Wednesday, November 17th. ATB Capital reaffirmed a “sector perform” rating and set a C$33.00 price objective on shares of Suncor Energy in a report on Wednesday, October 27th. Tudor Pickering & Holt set a C$35.00 price objective on Suncor Energy and gave the stock a “buy” rating in a report on Thursday, October 28th. The Goldman Sachs Group raised their price objective on Suncor Energy from C$27.00 to C$28.00 and gave the stock a “buy” rating in a report on Tuesday, October 19th. Finally, CSFB raised their price objective on Suncor Energy from C$36.00 to C$42.00 and gave the stock an “outperform” rating in a report on Tuesday, November 2nd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$35.49.

TSE:SU traded up C$0.41 during trading hours on Thursday, hitting C$34.15. The company’s stock had a trading volume of 2,221,842 shares, compared to its average volume of 9,218,694. The stock has a market capitalization of C$49.76 billion and a P/E ratio of 21.49. The stock has a fifty day moving average of C$28.37 and a 200-day moving average of C$27.62. The company has a current ratio of 0.99, a quick ratio of 0.58 and a debt-to-equity ratio of 52.29. Suncor Energy has a 52-week low of C$20.29 and a 52-week high of C$34.35.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Wednesday, October 27th. The company reported C$0.71 EPS for the quarter, missing the consensus estimate of C$0.73 by C($0.02). The company had revenue of C$10.21 billion during the quarter, compared to analysts’ expectations of C$11.44 billion. On average, sell-side analysts forecast that Suncor Energy will post 4.0400001 earnings per share for the current year.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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