Suncor Energy (TSE:SU) Price Target Raised to C$109.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective lifted by research analysts at Raymond James Financial from C$103.00 to C$109.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 27.25% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Scotia increased their price objective on Suncor Energy from C$85.00 to C$90.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 21st. Desjardins set a C$107.00 price objective on Suncor Energy and gave the company a “buy” rating in a report on Friday, July 17th. Royal Bank Of Canada boosted their target price on Suncor Energy from C$89.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. Finally, Gerdes Energy Research lowered Suncor Energy from a “buy” rating to a “neutral” rating and upped their target price for the stock from C$96.00 to C$97.00 in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$97.19.

Suncor Energy Price Performance

Shares of TSE:SU traded down C$2.46 during trading on Thursday, reaching C$85.66. The company had a trading volume of 2,850,812 shares, compared to its average volume of 6,302,310. The company has a fifty day moving average of C$85.18 and a two-hundred day moving average of C$83.71. The stock has a market capitalization of C$101.14 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18. Suncor Energy has a 12 month low of C$52.95 and a 12 month high of C$96.53. The company has a current ratio of 1.42, a quick ratio of 0.83 and a debt-to-equity ratio of 32.36.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The company had revenue of C$17.50 billion during the quarter. Equities research analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current year.

Key Stories Impacting Suncor Energy

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Suncor beat quarterly profit estimates, helped by higher crude prices and stronger refining margins. The company reported quarterly revenue of C$17.50 billion and earnings of C$3.23 per share, supporting the outlook for cash generation. Suncor beats quarterly profit estimates on higher crude prices, refining margins
• Positive Sentiment: Suncor increased its share-buyback plans following the earnings beat, giving investors an additional avenue for capital returns and potentially supporting per-share earnings. Investor Outlook: Suncor raises buybacks after earnings beat
• Positive Sentiment: BMO Capital Markets raised its price target for Suncor from C$100 to C$105, implying roughly 19% upside from the quoted reference price and signaling continued analyst confidence. BayStreet.CA analyst ratings
• Neutral Sentiment: Management said the recent oil sands memorandum of understanding has not changed Suncor’s spending plans. The company also does not intend to accelerate production growth despite potential Canadian policy changes, suggesting a continued focus on disciplined investment rather than rapid expansion. Suncor not planning to speed production growth despite Canada policy changes
• Negative Sentiment: CEO Rich Kruger will step down next April and be succeeded by Peter Zebedee. The unexpected departure of Chief Financial Officer Kevin? [remove] the company’s CFO adds near-term management uncertainty and may be weighing on investor sentiment during the transition. Suncor Says Zebedee to Succeed Kruger as CEO Next April

Suncor Energy Company Profile

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.