Suncor Energy (TSE:SU) Raised to Hold at Scotiabank

Suncor Energy (TSE:SU) (NYSE:SU) was upgraded by analysts at Scotiabank to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Desjardins lowered their target price on shares of Suncor Energy from C$68.50 to C$65.00 and set a “buy” rating on the stock in a research note on Wednesday. Jefferies Financial Group upped their price objective on shares of Suncor Energy from C$58.00 to C$59.00 in a research note on Monday, February 24th. Gerdes Energy Research set a C$69.00 price objective on shares of Suncor Energy and gave the stock a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on shares of Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Finally, Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.96.

Suncor Energy Stock Performance

TSE SU opened at C$53.72 on Wednesday. The stock has a market cap of C$67.38 billion, a P/E ratio of 8.48, a PEG ratio of 0.15 and a beta of 1.47. The company’s 50-day simple moving average is C$54.86 and its 200 day simple moving average is C$53.76. Suncor Energy has a twelve month low of C$48.41 and a twelve month high of C$58.58. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35.

Suncor Energy Company Profile

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.