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

Suncor Energy (TSE:SU) (NYSE:SU) had its price target boosted by investment analysts at Scotiabank from C$59.00 to C$62.00 in a research note issued on Wednesday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 9.08% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada cut their price target on shares of Suncor Energy from C$67.00 to C$64.00 in a report on Tuesday, September 17th. Jefferies Financial Group cut their target price on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, September 16th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target for the company in a research note on Wednesday, August 7th. Desjardins raised their price objective on Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, Wolfe Research upgraded Suncor Energy to a “strong-buy” rating in a report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$61.54.

Suncor Energy Stock Up 2.6 %

TSE:SU opened at C$56.84 on Wednesday. Suncor Energy has a one year low of C$40.07 and a one year high of C$57.32. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The company has a market cap of C$72.19 billion, a PE ratio of 9.81, a P/E/G ratio of 0.15 and a beta of 1.47. The firm’s 50 day simple moving average is C$52.52 and its 200 day simple moving average is C$53.07.

Insider Activity

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. 0.01% of the stock is currently owned by company insiders.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.