Raymond James Raises Suncor Energy (TSE:SU) Price Target to C$56.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price increased by investment analysts at Raymond James from C$52.00 to C$56.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Raymond James’ target price would suggest a potential downside of 1.75% from the stock’s previous close. Raymond James also issued estimates for Suncor Energy’s FY2024 earnings at $5.29 EPS, FY2025 earnings at $4.86 EPS and FY2028 earnings at $4.51 EPS.

Other equities analysts also recently issued research reports about the company. Scotiabank upped their price objective on Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday. Desjardins lifted their target price 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. Jefferies Financial Group cut their price target on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating for the company in a report on Monday, September 16th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective for the company in a research note on Wednesday, August 7th. Finally, Wolfe Research upgraded Suncor Energy to a “strong-buy” rating in a research report on Thursday, July 18th. 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 stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average target price of C$61.54.

Suncor Energy Stock Performance

SU stock opened at C$57.00 on Thursday. 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 firm has a market cap of C$72.39 billion, a PE ratio of 9.82, a P/E/G ratio of 0.15 and a beta of 1.47. The business has a 50 day moving average of C$52.61 and a 200-day moving average of C$53.10. Suncor Energy has a 12-month low of C$40.07 and a 12-month high of C$57.50.

Insiders Place Their Bets

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the firm’s stock in a transaction 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. Corporate 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.