CIBC Cuts Suncor Energy (SU) Price Target to C$56.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target cut by investment analysts at CIBC from C$64.00 to C$56.00 in a note issued to investors on Thursday. CIBC’s price target indicates a potential upside of 30.08% from the stock’s current price.

Several other research firms have also commented on SU. National Bank Financial raised their price objective on shares of Suncor Energy from C$64.00 to C$65.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. TD Securities lifted their price target on shares of Suncor Energy from C$58.00 to C$59.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. BMO Capital Markets lifted their price target on shares of Suncor Energy from C$58.00 to C$60.00 in a research note on Thursday, July 26th. Canaccord Genuity lifted their price target on shares of Suncor Energy from C$64.00 to C$67.00 in a research note on Thursday, August 16th. Finally, Raymond James lifted their price target on shares of Suncor Energy from C$69.00 to C$70.00 in a research note on Friday, October 5th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$61.06.

TSE SU opened at C$43.05 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 36.41. Suncor Energy has a one year low of C$40.49 and a one year high of C$55.47.

In related news, insider Janice Odegaard sold 60,000 shares of Suncor Energy stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of C$54.00, for a total value of C$3,240,000.00.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

Recommended Story: What is intrinsic value?

Analyst Recommendations for Suncor Energy (TSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply