BMO Capital Keeps a Buy Rating on Suncor Energy

By Carrie Williams

On March 12, an analyst has provided a rating update for the Materials sector company, Suncor Energy (TSX: SU). On March 12, analyst Randy Ollenberger gave a Buy rating to SU and set a C$54 price target.

According to TipRanks.com, Ollenberger is ranked 0 out of 5 stars with an average return of -3.7% and a 43.8% 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$51.80, representing a 23.1% upside.

In a report issued on March 7, UBS also initiated coverage with a Buy rating on the stock with a C$50 price target.

Suncor Energy’s market cap is currently C$69.4B and has a P/E ratio of 15.8.

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.

The company’s shares closed on Wednesday at C$42.08.