CIBC Increases Suncor Energy Inc. (SU) Price Target to C$53.00

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its target price hoisted by equities researchers at CIBC from C$50.00 to C$53.00 in a report issued on Tuesday. CIBC’s price target would suggest a potential upside of 25.89% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. National Bank Financial reiterated an “outperfrom under weight” rating on shares of Suncor Energy in a research report on Monday, June 26th. AltaCorp Capital downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. Barclays PLC increased their target price on Suncor Energy from C$47.00 to C$49.00 in a research report on Tuesday, October 10th. TD Securities dropped their target price on Suncor Energy from C$46.00 to C$45.00 and set a “buy” rating for the company in a research report on Thursday, July 27th. Finally, J P Morgan Chase & Co increased their target price on Suncor Energy from C$39.00 to C$42.00 in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$48.92.

Suncor Energy (TSE:SU) traded up 0.45% on Tuesday, hitting $42.29. The company had a trading volume of 1,570,643 shares. The firm has a 50-day moving average price of $41.65 and a 200-day moving average price of $40.81. Suncor Energy has a 12-month low of $36.09 and a 12-month high of $44.90. The firm has a market capitalization of $70.17 billion and a PE ratio of 26.17.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Wednesday, July 26th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.23 by C($0.11). The business had revenue of C$7.26 billion during the quarter, compared to analyst estimates of C$7.41 billion. Suncor Energy had a net margin of 6.00% and a return on equity of 3.86%. On average, equities research analysts anticipate that Suncor Energy will post $1.29 earnings per share for the current fiscal year.

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In related news, Director Jacynthe Cote acquired 2,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was bought at an average cost of C$41.78 per share, for a total transaction of C$83,560.00. Also, insider Steven Walter Williams acquired 1,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of C$39.39 per share, with a total value of C$39,390.00.

About Suncor Energy

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (TSE:SU)

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