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Raymond James Believes Suncor Energy (SU) Won’t Stop Here

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In a report released today, George Huang from Raymond James maintained a Buy rating on Suncor Energy (SUResearch Report), with a price target of C$46.00. The company’s shares closed last Wednesday at $28.56, close to its 52-week high of $29.25.

According to TipRanks.com, Huang is a 4-star analyst with an average return of 32.6% and a 100.0% success rate. Huang covers the Utilities sector, focusing on stocks such as Canadian Natural, Cenovus Energy, and Imperial Oil.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Suncor Energy with a $33.97 average price target, a 17.5% upside from current levels. In a report issued on January 10, Bank of America Securities also initiated coverage with a Buy rating on the stock with a C$44.00 price target.

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

Suncor Energy’s market cap is currently $41.7B and has a P/E ratio of 22.28.

Based on the recent corporate insider activity of 25 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.

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