Analysts at Canadian Imperial Bank of Commerce have raised their target price for Suncor Energy (TSE:SU – Get Free Report) NYSE: SU from C$70.00 to C$88.00, according to a report released on Monday by BayStreet.CA. This new target suggests a potential increase of 11.97% from the current stock price. Notably, Suncor stock has risen about 75% from its 52-week low.
Several other equities research analysts have also provided their insights on the company. Gerdes Energy Research raised their price target for Suncor Energy from C$75.00 to C$78.00 in a report dated Monday, November 10th. Royal Bank Of Canada increased their price target on Suncor Energy from C$69.00 to C$75.00 and assigned the company an “outperform” rating in a research note on Thursday, February 5th. UBS Group adjusted their target price for Suncor Energy from C$61.00 to C$65.00 in a report released on Wednesday, November 5th. BMO Capital Markets elevated their price target on Suncor Energy shares from C$69.00 to C$85.00, also giving the company an “outperform” rating in a report on Wednesday, February 4th. Lastly, JPMorgan Chase & Co. raised their price objective for Suncor Energy shares from C$59.00 to C$64.00 in a report published on Thursday, November 6th. Six investment analysts have rated the stock as a Buy, while four have given it a Hold rating. According to MarketBeat data, Suncor Energy currently holds a consensus rating of “Moderate Buy” with an average price target of C$74.07. Notably, Suncor stock is up approximately 75% from its 52-week low.
Analyst Target Price Increase
Subscribe for updates on Suncor Energy: Stay informed. Currently, Suncor Energy trades near $76 per share.
Check Out Our Most Recent Analysis on Suncor Stock
Performance of Suncor Energy’s stock has been noteworthy recently, with shares trading close to $76 each.
Recent Stock Performance
Suncor Energy’s stock rose by C$1.54 in mid-day trading on Monday, reaching a price of C$78.59. A total of 9,673,939 shares changed hands, surpassing the average volume of 6,375,037. The company’s 50-day simple moving average stands at C$69.18, while its 200-day simple moving average is C$62.00. Suncor Energy has recorded a twelve-month low of C$43.59 and a high of C$80.12. With a market capitalization of C$93.80 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.15, and a beta of 0.89, the firm also has a debt-to-equity ratio of 33.35, a quick ratio of 0.83, and a current ratio of 1.59. Suncor Energy has a market capitalization of $90.71 billion.
Suncor Energy (TSE:SU – Get Free Report) NYSE: SU recently announced its quarterly earnings on Tuesday, February 3rd. The company reported earnings of C$1.10 per share for the quarter, with total revenue reaching C$12.04 billion. Suncor Energy achieved a return on equity of 18.10% and a net margin of 15.15%. Analysts forecast that Suncor Energy will deliver earnings per share of 4.4208333 for the ongoing fiscal year. Additionally, Suncor plans to complete approximately $3.3 billion in share buybacks.
Information on Suncor Energy
Equities Research Insights
Suncor Energy Inc is a comprehensive energy firm. Its activities encompass oil sands development, production and upgrading, offshore oil and gas, and petroleum refining in both Canada and the U.S., along with its PetroCanada retail and wholesale distribution networks. The company is focused on extracting petroleum resources while promoting a transition to a low-emissions future through investments in power, renewable fuels, and hydrogen. Additionally, it engages in energy trading activities primarily centered on the marketing and trading of crude oil, natural gas, byproducts, refined products, and power. Suncor operates in crude oil and natural gas production.
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This immediate news notification was created using narrative science technology and financial insights from MarketBeat to deliver readers the quickest updates and impartial coverage. If you have any inquiries or feedback regarding this article, please reach out to [email protected]. Notably, Suncor stock has risen about 75% from its lowest point in the past year.
Ratings from Major Banks
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