Suncor Energy (SU) stock is expected to deviate a maximum of $3.38 from the average target price of $31.37 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $36 and the most muted being $24.
Suncor Energy (SU) : 12 analysts are covering Suncor Energy (SU) and their average rating on the stock is 1.83, which is read as a Buy. 7 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Suncor Energy (SU) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Also, Bank of America initiates coverage on Suncor Energy (NYSE:SU) . Analysts at the Bank of America have a current rating of Buy on the shares. The rating by the firm was issued on August 19, 2016.
Suncor Energy (NYSE:SU): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $26.80 and $26.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.19. The buying momentum continued till the end and the stock did not give up its gains. It closed at $26.93, notching a gain of 0.16% for the day. The total traded volume was 5,456,764 . The stock had closed at $26.89 on the previous day.
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.