Raymond James Thinks Suncor Energy’s Stock is Going to Recover


In a new note to investors yesterday, an analyst has provided a rating update for Suncor Energy (SU). Analyst Chris Cox from Raymond James remains bullish on the stock and has a C$59 price target.

According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.6% and a 45.6% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Suncor Energy with a C$58.88 average price target, a 43.6% upside from current levels. In a report issued on November 28, Mizuho Securities also reiterated a Buy rating on the stock with a C$52 price target.

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Suncor Energy’s market cap is currently C$66.75B and has a P/E ratio of 13.7. The company has a Price to Book ratio of 1.46.

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 Thursday at C$41, close to its 52-week low of C$40.49.

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