Royal Bank of Canada Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Suncor Energy (TSE:SU) (NYSE:SU) had its price target upped by research analysts at Royal Bank of Canada from C$64.00 to C$66.00 in a report issued on Thursday,BayStreet.CA reports. Royal Bank of Canada’s target price indicates a potential upside of 15.57% from the company’s current price.

SU has been the topic of a number of other reports. Jefferies Financial Group reduced their price objective on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. National Bankshares decreased their price target on Suncor Energy from C$77.00 to C$73.00 in a research note on Friday, September 27th. TD Securities upped their price objective on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Wolfe Research raised Suncor Energy to a “strong-buy” rating in a report on Thursday, July 18th. Finally, Raymond James set a C$52.00 price target on Suncor Energy in a 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$61.54.

Suncor Energy Stock Up 3.1 %

SU stock traded up C$1.71 during midday trading on Thursday, hitting C$57.11. 2,692,819 shares of the company’s stock were exchanged, compared to its average volume of 7,828,801. The stock has a market capitalization of C$72.53 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The firm has a 50 day moving average price of C$52.52 and a 200-day moving average price of C$53.07. Suncor Energy has a 12-month low of C$40.07 and a 12-month high of C$57.32.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. 0.01% of the stock is owned by 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.