Royal Bank Of Canada Boosts Suncor Energy Inc. (SU) Price Target to C$47.00

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its price objective hoisted by Royal Bank Of Canada from C$45.00 to C$47.00 in a report issued on Friday morning. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the company. Barclays PLC raised their price target on Suncor Energy from C$47.00 to C$49.00 in a research note on Tuesday, October 10th. J P Morgan Chase & Co raised their price target on Suncor Energy from C$39.00 to C$42.00 in a research note on Thursday, September 14th. CIBC raised their price target on Suncor Energy from C$50.00 to C$53.00 in a research note on Tuesday, October 17th. TD Securities raised their price target on Suncor Energy from C$49.00 to C$50.00 and gave the stock a buy rating in a research note on Thursday. Finally, National Bank Financial decreased their price target on Suncor Energy from C$50.00 to C$49.00 and set an outperform rating on the stock in a research note on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of C$49.17.

Shares of Suncor Energy (TSE SU) opened at 43.30 on Friday. The stock has a market capitalization of $71.85 billion and a price-to-earnings ratio of 26.79. Suncor Energy has a one year low of $36.09 and a one year high of $44.90. The company has a 50-day moving average of $42.34 and a 200 day moving average of $40.89.

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In related news, insider Michael Roderick Macsween sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of C$43.00, for a total transaction of C$860,000.00. Also, insider Steven Walter Williams bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were bought at an average price of C$39.39 per share, for a total transaction of C$39,390.00.

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.

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