Barclays PLC Raises Suncor Energy Inc. (SU) Price Target to C$50.00

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its price objective increased by investment analysts at Barclays PLC from C$49.00 to C$50.00 in a research report issued on Friday, October 27th. Barclays PLC’s price objective would suggest a potential upside of 9.75% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. J P Morgan Chase & Co increased their price objective on shares of Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. CIBC increased their price objective on shares of Suncor Energy from C$50.00 to C$53.00 in a report on Tuesday, October 17th. TD Securities increased their target price on shares of Suncor Energy from C$49.00 to C$50.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Royal Bank Of Canada increased their target price on shares of Suncor Energy from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, National Bank Financial cut their target price on shares of Suncor Energy from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a report on Friday, October 13th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of C$49.17.

Shares of Suncor Energy (SU) traded down C$0.66 during mid-day trading on Friday, hitting C$45.56. 2,138,648 shares of the stock were exchanged, compared to its average volume of 2,668,540. Suncor Energy has a 12 month low of C$36.09 and a 12 month high of C$46.66.

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In other Suncor Energy news, insider Michael Roderick Macsween sold 55,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total value of C$2,530,000.00. Also, Director Jacynthe Cote purchased 2,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was purchased at an average price of C$41.78 per share, with a total value of C$83,560.00. In the last quarter, insiders acquired 3,539 shares of company stock valued at $146,553 and sold 76,100 shares valued at $3,440,074.

Suncor Energy Company Profile

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.

Analyst Recommendations for Suncor Energy (TSE:SU)

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