Canadian Imperial Bank of Commerce Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its target price increased by stock analysts at Canadian Imperial Bank of Commerce from C$70.00 to C$88.00 in a report issued on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 11.97% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Gerdes Energy Research lifted their price objective on Suncor Energy from C$75.00 to C$78.00 in a report on Monday, November 10th. Royal Bank Of Canada lifted their price target on Suncor Energy from C$69.00 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. UBS Group raised their target price on Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. BMO Capital Markets increased their price target on shares of Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$74.07.

Suncor Energy Stock Performance

Suncor Energy stock traded up C$1.54 during mid-day trading on Monday, reaching C$78.59. 9,673,939 shares of the company were exchanged, compared to its average volume of 6,375,037. The firm’s 50-day simple moving average is C$69.18 and its two-hundred day simple moving average is C$62.00. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$80.12. The firm has a market cap of C$93.80 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share for the quarter. The firm had revenue of C$12.04 billion during the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. Equities analysts predict that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.