Mizuho Securities Thinks Suncor Energy’s Stock is Going to Recover
Suncor Energy (SU), the Materials sector company was revisited on November 28, and remains undervalued for at least one analyst on the street. Analyst Paul Sankey from Mizuho Securities remains bullish on the stock and has a C$52 price target.
According to TipRanks.com, Sankey is a 1-star analyst with an average return of -3.1% and a 37.9% success rate. Sankey covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Occidental Petroleum, and Anadarko Petroleum.
Suncor Energy has an analyst consensus of Strong Buy, with a price target consensus of C$61.63, implying a 45.4% upside from current levels. In a report issued on November 20, Canaccord Genuity also maintained a Buy rating on the stock with a C$65 price target.
Suncor Energy’s market cap is currently C$69.02B and has a P/E ratio of 14.1. The company has a Price to Book ratio of 1.51.
Suncor Energy, Inc. is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing.
The company’s shares closed on Monday at C$42.39, close to its 52-week low of C$40.49.