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

Suncor Energy (TSE:SU) (NYSE:SU) had its price target raised by investment analysts at TD Securities from C$60.00 to C$62.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. TD Securities’ price target would suggest a potential upside of 9.08% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada dropped their price target on shares of Suncor Energy from C$67.00 to C$64.00 in a research report on Tuesday, September 17th. Desjardins raised their price target on shares of Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price on the stock in a report on Wednesday, August 7th. Finally, Raymond James set a C$52.00 price target on Suncor Energy in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$61.54.

Suncor Energy Stock Performance

SU opened at C$56.84 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. The stock’s 50 day moving average price is C$52.52 and its two-hundred day moving average price is C$53.07. The firm has a market capitalization of C$72.19 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12-month low of C$40.07 and a 12-month high of C$57.32.

Insiders Place Their Bets

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 stock was sold at an average price of C$56.54, for a total value of C$2,131,558.00. Company insiders own 0.01% of the company’s stock.

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.