Suncor Energy (TSE:SU) Given New C$65.00 Price Target at Desjardins

Suncor Energy (TSE:SU) (NYSE:SU) had its target price dropped by equities researchers at Desjardins from C$68.50 to C$65.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 21.77% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on SU. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Raymond James lifted their price target on Suncor Energy from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on Suncor Energy from C$59.00 to C$61.00 in a report on Friday, December 13th. Wells Fargo & Company reduced their target price on Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Finally, Jefferies Financial Group boosted their price target on Suncor Energy from C$58.00 to C$59.00 in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$63.04.

Suncor Energy Stock Performance

Suncor Energy stock traded down C$0.38 during midday trading on Wednesday, hitting C$53.38. 1,696,515 shares of the company were exchanged, compared to its average volume of 8,766,395. The firm has a market capitalization of C$66.95 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The business has a fifty day simple moving average of C$54.98 and a two-hundred day simple moving average of C$53.77. Suncor Energy has a fifty-two week low of C$48.41 and a fifty-two week high of C$58.58. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.