Price Target Update on Suncor Energy (NYSE:SU)

Suncor Energy (NYSE:SU) has been rated by 10 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $43 and the lowest price target forecast is $23. The average forecast of all the analysts is $33.01 and the expected standard deviation is $5.52.

Other Equity analysts have also commented on the company shares. Citigroup downgrades their rating on the shares of Suncor Energy (NYSE:SU). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on April 20, 2016.

Suncor Energy (NYSE:SU): stock turned positive on Thursday. Though the stock opened at $27.53, the bulls momentum made the stock top out at $28.29 level for the day. The stock recorded a low of $27.47 and closed the trading day at $28.2, in the green by 4.02%. The total traded volume for the day was 5,723,672. The stock had closed at $27.11 in the previous days trading.

The company shares have dropped -3.32% from its 1 Year high price. On Nov 3, 2015, the shares registered one year high at $30.70 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $26.92 and the 200 Day Moving Average price is recorded at $25.79.

Suncor Energy Inc. (Suncor) is an integrated energy company. The Company is focused on developing Canadas petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production, and Refining and Marketing. The Companys Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations. Its Exploration and Production segment consists of offshore operations off the east coast of Canada and in the North Sea, and onshore assets in North America, Libya and Syria. The Companys Refining and Marketing segment is engaged in Refining and Supply, and Downstream Marketing. In addition, the Company explores, for, acquires, develops, produces and markets crude oil and natural gas in Canada and internationally. The Company also transports and refines crude oil, and markets petroleum and petrochemical products primarily in Canada.

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