How Analysts Feel About Suncor Energy Inc. After Today’s Gap Up?

 How Analysts Feel About Suncor Energy Inc. After Today's Gap Up?

The stock of Suncor Energy Inc. (TSE:SU) gapped up by $0.09 today and has $58.42 target or 41.00% above today’s $41.43 share price. The 6 months technical chart setup indicates low risk for the $71.09 billion company. The gap was reported on Nov, 17 by Barchart.com. If the $58.42 price target is reached, the company will be worth $29.15B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 2.52 million shares traded hands. Suncor Energy Inc. (TSE:SU) has risen 10.69% since April 13, 2016 and is uptrending. It has outperformed by 6.06% the S&P500.

Suncor Energy Inc. (TSE:SU) Ratings Coverage

Out of 7 analysts covering Suncor Energy Inc. (TSE:SU), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $52 is the highest target while $12.50 is the lowest. The $40.05 average target is -3.33% below today’s ($41.43) stock price. Suncor Energy Inc. has been the topic of 27 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Morgan Stanley maintained the shares of SU in a report on Wednesday, November 2 with “Overweight” rating. The stock of Suncor Energy Inc. (TSE:SU) earned “Buy” rating by Citigroup on Friday, February 12. The rating was maintained by Raymond James with “” on Monday, June 6. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, April 29 report. As per Friday, July 29, the company rating was maintained by Scotia Capital. On Friday, October 28 the stock rating was maintained by RBC Capital Markets with “Sector Perform”.

More notable recent Suncor Energy Inc. (TSE:SU) news were published by: Fool.ca which released: “Warren Buffett Sold His Stake in Suncor Energy Inc.: Should You Follow Him?” on November 17, 2016, also Business.Financialpost.com with their article: “Warren Buffett sells Suncor, buys into airline industry he once called a …” published on November 15, 2016, Fool.ca published: “Buffett Sells Suncor Energy Inc.: What Does This Mean for the Canadian Oil Patch?” on November 16, 2016. More interesting news about Suncor Energy Inc. (TSE:SU) were released by: Fool.com and their article: “Better Buy: Suncor Energy Inc. vs. Phillips 66” published on November 01, 2016 as well as Business.Financialpost.com‘s news article titled: “Suncor Energy Inc sells lubricants unit to HollyFrontier Corp for $1.13 billion” with publication date: October 31, 2016.

Suncor Energy Inc. is an integrated energy company. The company has a market cap of $71.09 billion. The Firm is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. It currently has negative earnings. The Firm operates in three business divisions: Oil Sands, Exploration and Production (E&P), and Refining and Marketing.

SU.TO Company Profile

Suncor Energy Inc. (Suncor), incorporated on August 1, 2009, is an integrated energy company. The Firm is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Firm operates in three business divisions: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. In addition, it explores for, acquires, develops, produces and markets natural gas and crude oil in Canada and internationally. It transports and refines crude oil, and markets petroleum and petrochemical products primarily in Canada. It also markets third-party petroleum products. Suncor conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, power and byproducts.

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