Scotiabank Boosts Suncor Energy (TSE:SU) Price Target to C$62.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target hoisted by investment analysts at Scotiabank from C$59.00 to C$62.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s price target indicates a potential upside of 11.89% from the stock’s previous close.

A number of other research firms also recently weighed in on SU. Desjardins boosted their price target 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. National Bankshares dropped their price target on shares of Suncor Energy from C$77.00 to C$73.00 in a research report on Friday, September 27th. Wolfe Research raised shares of Suncor Energy to a “strong-buy” rating in a research report on Thursday, July 18th. 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 report on Tuesday, October 15th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$60.79.

Suncor Energy Stock Up 4.2 %

TSE:SU traded up C$2.25 on Wednesday, hitting C$55.41. 4,164,222 shares of the company’s stock were exchanged, compared to its average volume of 7,833,698. 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 firm has a 50-day moving average price of C$52.49 and a 200-day moving average price of C$53.06. The company has a market cap of C$70.37 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a 52 week low of C$40.07 and a 52 week high of C$57.32.

Insider Buying and Selling at Suncor Energy

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