Suncor Energy (NYSE: SU)‘s stock had its “neutral” rating restated by Zacks in a report issued on Monday. They currently have a $33.00 target price on the stock.
Zacks’ analyst wrote, “Suncor – Canada’s biggest energy firm and the largest oil sands outfit possesses an impressive portfolio of growth opportunities, a unique asset base and high return potential in the long run. Embarking on a series of divestitures, the company is getting back on track following its merger with Petro-Canada. Additionally, given our bullish outlook for the medium-term oil price scenario, we think Suncor is nicely positioned to benefit from its leverage to commodity prices. However, we are remaining on the sidelines at this point until we get better proof of the company’s sustainable operational efficiency. Consequently, we see the stock performing in line with the broader market and maintain our Neutral recommendation on Suncor.”
Shares of Suncor Energy traded up 0.16% during mid-day trading on Monday, hitting $31.25. Suncor Energy has a 52 week low of $22.55 and a 52 week high of $47.00. The company has a market cap of $48.802 billion and a P/E ratio of 11.61.
A number of other analysts have also recently weighed in on SU. Analysts at BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note to investors on Monday. They now have a $39.00 price target on the stock, up previously from $38.00. Analysts at Stifel Nicolaus upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note to investors on Friday, February 17th. They now have a $42.00 price target on the stock.
Suncor Energy Inc. (Suncor) is an integrated energy company. The Company explores for, acquires, develops, produces and markets crude oil and natural gas in Canada and internationally, and it transports and refines crude oil and market petroleum and petrochemical products primarily in Canada.
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