CIBC Believes Suncor Energy (SU) Still Has Room to Grow

In a report released yesterday, CIBC World Markets from CIBC maintained a Buy rating on Suncor Energy (SUResearch Report), with a price target of C$48.00. The company’s shares closed last Wednesday at $26.64, close to its 52-week high of $26.97.

Suncor Energy has an analyst consensus of Strong Buy, with a price target consensus of $31.64, which is a 22.6% upside from current levels. In a report issued on November 19, Morgan Stanley also maintained a Buy rating on the stock with a C$45.00 price target.

See today’s best-performing stocks on TipRanks >>

The company has a one-year high of $26.97 and a one-year low of $15.68. Currently, Suncor Energy has an average volume of 7.5M.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SU in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Suncor Energy, Inc. is a Canada-based integrated energy company which is specialized in producing synthetic crude from oil sands. The company also engages in exploration, acquisition, development, production, and marketing of crude oil in Canada and internationally. It also markets and trades in natural gas, crude oil, byproducts, refined products, and power.

Read More on SU: