Scotiabank Keeps a Hold Rating on Suncor Energy

By Austin Angelo

The Materials sector company, Suncor Energy (TSX: SU), has received a rating update from a Wall Street analyst yesterday. Analyst Jason Bouvier from Scotiabank rated Suncor Energy (TSX: SU) a Hold, setting a C$43 price target.

Bouvier has an average return of 13.4% when recommending Suncor Energy.

According to TipRanks.com, Bouvier is ranked #4016 out of 4600 analysts.

Currently, the analyst consensus on Suncor Energy is Strong Buy and the average price target is C$47.50, representing a 25.8% upside.

In a report issued on June 28, GMP FirstEnergy also reiterated a Hold rating on the stock with a C$35 price target.

The company has a one year high of C$44.90 and a one year low of C$33.76. Currently, Suncor Energy has an average volume of 2.62M.

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. It operates through the following segments: Oil Sands, Exploration & Production and Refining & Marketing.

The company’s shares closed on Friday at $37.77.