CIBC Boosts Suncor Energy Inc. (SU) Price Target to C$53.00

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its price objective increased by research analysts at CIBC from C$50.00 to C$53.00 in a research note issued on Tuesday, October 17th. CIBC’s target price points to a potential upside of 17.13% from the company’s previous close.

A number of other research analysts also recently commented on SU. National Bank Financial set a C$51.00 target price on Suncor Energy and gave the stock an “outperform” rating in a report on Tuesday, June 27th. TD Securities cut their price target on Suncor Energy from C$46.00 to C$45.00 and set a “buy” rating on the stock in a report on Thursday, July 27th. AltaCorp Capital downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. J P Morgan Chase & Co raised their price target on Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. Finally, Barclays PLC raised their price target on Suncor Energy from C$47.00 to C$49.00 in a report on Tuesday, October 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and an average price target of C$49.17.

Suncor Energy (TSE SU) traded up C$0.26 during trading hours on Tuesday, reaching C$45.25. The company’s stock had a trading volume of 1,416,514 shares, compared to its average volume of 2,710,000. Suncor Energy has a 52 week low of C$36.09 and a 52 week high of C$45.38.

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In related news, Director Jacynthe Cote bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were acquired at an average cost of C$41.78 per share, for a total transaction of C$83,560.00. Also, insider Steven Walter Williams bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of C$39.39 per share, for a total transaction of C$39,390.00. Over the last quarter, insiders have bought 3,539 shares of company stock worth $146,553.

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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