TD Securities Increases Suncor Energy Inc. (SU) Price Target to C$46.00
Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its price target hoisted by TD Securities from C$45.00 to C$46.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 11.60% from the stock’s current price.
Several other brokerages also recently issued reports on SU. JPMorgan Chase & Co. raised their price target on Suncor Energy from C$39.00 to C$40.00 in a report on Monday, September 12th. Scotiabank raised their price target on Suncor Energy from C$44.00 to C$45.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank Of Canada raised their price target on Suncor Energy from C$45.00 to C$47.00 and gave the company an “outperform” rating in a report on Friday. Raymond James Financial Inc. raised their price target on Suncor Energy from C$42.00 to C$43.00 in a report on Wednesday, October 12th. Finally, BMO Capital Markets raised their price target on Suncor Energy from C$42.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday, October 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$43.00.
Shares of Suncor Energy (TSE:SU) traded up 1.84% during midday trading on Friday, reaching $41.98. 1,604,328 shares of the company’s stock traded hands. The stock has a 50 day moving average of $38.81 and a 200-day moving average of $36.19. Suncor Energy has a 52-week low of $27.32 and a 52-week high of $42.20. The stock’s market cap is $69.89 billion.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.81%.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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