BMO Capital Believes Suncor Energy (TSX: SU) Still Has Room to Grow

By Jason Carr

Suncor Energy (TSX: SU), the Materials sector company, was revisited by a Wall Street analyst yesterday. Analyst Randy Ollenberger from BMO Capital rated Suncor Energy (TSX: SU) a Buy, setting a C$56 price target.

According to, Ollenberger is a 2-star analyst with an average return of 0.8% and a 55.3% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Spectra Energy Partners.

Currently, the analyst consensus on Suncor Energy is Strong Buy and the average price target is C$50.29, representing a 6.8% upside.

In a report issued on January 3, Canaccord Genuity also assigned a Buy rating to the stock with a C$54 price target.

Suncor Energy’s market cap is currently C$78.04B and has a P/E ratio of 21.6.

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 Thursday at C$47.11, close to its 52-week high of C$47.69.