Suncor Energy (TSE:SU) Price Target Cut to C$55.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective cut by investment analysts at CIBC from C$56.00 to C$55.00 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. CIBC’s target price indicates a potential upside of 35.17% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Raymond James reissued a “buy” rating and set a $21.00 target price on shares of Colfax in a research report on Thursday, May 2nd. Evercore ISI lowered shares of Suncor Energy from an “outperform” rating to an “in-line” rating and cut their target price for the stock from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. GMP Securities reissued a “buy” rating and set a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Evercore lowered shares of Suncor Energy from an “outperform” rating to an “in-line” rating and cut their target price for the stock from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. Finally, National Bank Financial boosted their target price on shares of Vermilion Energy from C$35.00 to C$36.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of C$54.47.

Shares of TSE:SU opened at C$40.69 on Thursday. The firm’s fifty day moving average is C$41.31. The firm has a market cap of $66.74 billion and a price-to-earnings ratio of 16.53. Suncor Energy has a 12-month low of C$35.53 and a 12-month high of C$55.47. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 43.32.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Wednesday, May 1st. The company reported C$0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.51 by C$0.26. The company had revenue of C$9.40 billion for the quarter, compared to analyst estimates of C$9.37 billion. Sell-side analysts expect that Suncor Energy will post 3.4399998 earnings per share for the current year.

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.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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