Desjardins Cuts Suncor Energy (TSE:SU) Price Target to C$65.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target decreased by investment analysts at Desjardins from C$68.50 to C$65.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 21.77% from the stock’s current price.

SU has been the subject of a number of other research reports. National Bankshares upped their price objective on shares of Suncor Energy from C$65.00 to C$68.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Jefferies Financial Group increased their price target on shares of Suncor Energy from C$58.00 to C$59.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target on shares of Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$63.04.

Suncor Energy Stock Performance

Shares of SU traded down C$0.38 during trading hours on Wednesday, reaching C$53.38. 1,696,515 shares of the company traded hands, compared to its average volume of 8,766,395. The stock’s fifty day moving average is C$54.98 and its 200 day moving average is C$53.77. The stock has a market cap of C$66.95 billion, a P/E ratio of 8.43, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. Suncor Energy has a 1-year low of C$48.41 and a 1-year high of C$58.58.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.