Could Suncor Energy Inc. Lose its Strength? The Stock Reaches 52-Week High

 Could Suncor Energy Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of Suncor Energy Inc. (TSE:SU) hit a new 52-week high and has $45.41 target or 4.00% above today’s $43.66 share price. The 5 months bullish chart indicates low risk for the $77.08 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $45.41 price target is reached, the company will be worth $3.08 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 665,195 shares traded hands. Suncor Energy Inc. (TSE:SU) has risen 18.01% since April 27, 2016 and is uptrending. It has outperformed by 12.09% 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 1.24% above today’s ($43.66) stock price. Suncor Energy Inc. has been the topic of 31 analyst reports since July 31, 2015 according to StockzIntelligence Inc. On Friday, April 29 the stock rating was maintained by RBC Capital Markets with “Outperform”. RBC Capital Markets maintained Suncor Energy Inc. (TSE:SU) on Friday, October 28 with “Sector Perform” rating. As per Friday, July 29, the company rating was maintained by Scotia Capital. On Monday, June 6 the stock rating was maintained by Raymond James with “”. Citigroup upgraded the stock to “Buy” rating in Friday, February 12 report. The firm earned “Outperform” rating on Friday, November 18 by BMO Capital Markets. The rating was maintained by Morgan Stanley with “Overweight” on Wednesday, November 2.

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 $77.08 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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