Today Suncor Energy Inc. Stock Increases. What To Expect?

 Today Suncor Energy Inc. Stock Increases. What To Expect?

The stock of Suncor Energy Inc. (TSE:SU) gapped up by $1.22 today and has $44.75 target or 5.00% above today’s $42.62 share price. The 8 months technical chart setup indicates low risk for the $69.40 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $44.75 price target is reached, the company will be worth $3.47 billion 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 1.47M shares traded hands. Suncor Energy Inc. (TSE:SU) has risen 11.00% since April 26, 2016 and is uptrending. It has outperformed by 5.78% the S&P500.

Suncor Energy Inc. (TSE:SU) Ratings Coverage

Out of 7 analysts covering Suncor Energy Inc. (TSE:SU), 7 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $52 is the highest target while $12.50 is the lowest. The $44.20 average target is 3.71% above today’s ($42.62) stock price. Suncor Energy Inc. has been the topic of 31 analyst reports since July 31, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of SU in a report on Friday, April 29 with “Outperform” rating. The firm has “Outperform” rating by Scotia Capital given on Friday, July 29. RBC Capital Markets maintained the shares of SU in a report on Friday, October 28 with “Sector Perform” rating. Citigroup upgraded Suncor Energy Inc. (TSE:SU) on Friday, February 12 to “Buy” rating. BMO Capital Markets maintained Suncor Energy Inc. (TSE:SU) on Friday, November 18 with “Outperform” rating. The rating was maintained by Morgan Stanley with “Overweight” on Wednesday, November 2. The rating was maintained by Raymond James on Monday, June 6 with “”.

More notable recent Suncor Energy Inc. (TSE:SU) news were published by: Forbes.com which released: “Suncor Energy About To Put More Money In Your Pocket (SU)” on November 28, 2016, also Business.Financialpost.com with their article: “Suncor Energy Inc plans to spend $1 billion less next year, cutting costs to …” published on November 17, 2016, Fool.com published: “Better Buy: Suncor Energy Inc. vs. Phillips 66” on November 01, 2016. More interesting news about Suncor Energy Inc. (TSE:SU) were released by: Fool.ca and their article: “Is Suncor Energy Inc. Going to Hit $50 Before the Year Ends?” published on November 24, 2016 as well as Fool.ca‘s news article titled: “Buffett’s Suncor Energy Inc. Purchase May Pay Off Big in 2017, 2018” with publication date: November 21, 2016.

Suncor Energy Inc. is an integrated energy company. The company has a market cap of $69.40 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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