Desjardins Upgrades Suncor Energy (TSE:SU) to “Moderate Buy”

Suncor Energy (TSE:SU) (NYSE:SU) was upgraded by research analysts at Desjardins from a “hold” rating to a “moderate buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms have also recently issued reports on SU. Raymond James increased their target price on Suncor Energy from C$52.00 to C$56.00 in a research note on Thursday. TD Securities boosted their target price on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Scotiabank raised their target price on Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday. National Bankshares increased their price target on Suncor Energy from C$73.00 to C$76.00 in a report on Thursday. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of C$61.54.

Suncor Energy Stock Performance

Shares of SU stock opened at C$57.00 on Thursday. The firm has a market cap of C$72.39 billion, a P/E ratio of 9.82, a PEG ratio of 0.15 and a beta of 1.47. The stock’s 50-day moving average is C$52.61 and its two-hundred day moving average is C$53.10. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. Suncor Energy has a fifty-two week low of C$40.07 and a fifty-two week high of C$57.50.

Insider Activity

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. Company insiders own 0.01% of the company’s stock.

About Suncor Energy

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.