Suncor Energy (SU) Stock Forecast & Price Target

$38.66

+0.16 (+0.42%)

(As of 10/2/2024 ET)

Suncor Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 8 Analyst Ratings

Sell
0

Hold
2

Buy
6

Based on 8 Wall Street analysts who have issued ratings for Suncor Energy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 8 analysts, 2 have given a hold rating, and 6 have given a buy rating for SU.

Consensus Price Target

$55.83
44.42% Upside

According to the 8 analysts' twelve-month price targets for Suncor Energy, the average price target is $55.83. The highest price target for SU is $68.00, while the lowest price target for SU is $45.00. The average price target represents a forecasted upside of 44.42% from the current price of $38.66.

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SU Analyst Ratings Over Time

Type	Current Forecast 10/3/23 to 10/2/24	1 Month Ago 9/3/23 to 9/2/24	3 Months Ago 7/5/23 to 7/4/24	1 Year Ago 10/3/22 to 10/3/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	6 Buy rating(s)	6 Buy rating(s)	5 Buy rating(s)	3 Buy rating(s)
Hold	2 Hold rating(s)	3 Hold rating(s)	4 Hold rating(s)	5 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$55.83	$54.86	$51.67	$51.50
Forecasted Upside	44.42% Upside	35.32% Upside	32.38% Upside	53.46% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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SU Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

SU Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Suncor Energy Stock vs. The Competition

Type	Suncor Energy	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.75	2.61	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	44.42% Upside	220.55% Upside	6.88% Upside
News Sentiment Rating	Positive News See Recent SU News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
8/7/2024	BMO Capital Markets 4 of 5 stars	R. Ollenberger Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Market Perform ➝ Outperform
8/7/2024	TD Securities 4 of 5 stars	M. Hulshof Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy
7/18/2024	Wolfe Research 3 of 5 stars	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$68.00	+75.03%
7/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform ➝ Sector Perform	$61.00 ➝ $60.00	+56.78%
5/28/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Mccrea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
5/23/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$38.00 ➝ $45.00	+10.54%
3/28/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$50.00 ➝ $52.00	+41.19%
11/10/2023	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$51.00 ➝ $53.00	+59.73%
9/18/2023	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$49.00	+39.64%
8/23/2023	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Equal Weight ➝ Overweight	$44.00 ➝ $54.00	+65.80%
7/12/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy
4/28/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Sector Perform ➝ Outperform
10/19/2022	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 12:30 AM ET.

Should I Buy Suncor Energy Stock? SU Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Tuesday, September 24, 2024. Please send any questions or comments about these Suncor Energy pros and cons to contact@marketbeat.com.

Suncor Energy
Bull Case

Here are some ways that investors could benefit from investing in Suncor Energy Inc.:

Suncor Energy Inc. has a current dividend yield of 3.98%, providing investors with a steady income stream. A higher dividend yield can be attractive to income-focused investors looking for consistent returns.
Recent earnings report showed Suncor Energy Inc. beating analysts' EPS estimates by $0.51, indicating strong financial performance and potential for growth. This positive earnings surprise can boost investor confidence in the company's future prospects.
Suncor Energy Inc. has a diversified business model operating in Oil Sands, Exploration and Production, and Refining and Marketing segments. Diversification can help mitigate risks associated with fluctuations in specific sectors of the energy industry.
Analysts have upgraded Suncor Energy Inc.'s rating to "outperform" and "buy," signaling positive sentiment and confidence in the company's ability to outperform the market. Analyst ratings can influence investor decisions and reflect the company's growth potential.
With a P/E ratio of 8.80, Suncor Energy Inc. may be considered undervalued compared to industry peers, potentially presenting a buying opportunity for investors seeking stocks with favorable valuations.

Suncor Energy
Bear Case

Investors should be bearish about investing in Suncor Energy Inc. for these reasons:

The energy sector is subject to volatility due to factors like geopolitical events, oil price fluctuations, and regulatory changes. Investors in Suncor Energy Inc. may face risks associated with the inherent volatility of the industry.
While Suncor Energy Inc. has a dividend payout ratio of 35.63%, indicating a sustainable dividend policy, fluctuations in oil prices can impact the company's ability to maintain dividend payments at current levels. Investors relying on dividends should consider the impact of oil price volatility on dividend stability.
Market conditions and economic factors can influence the performance of energy companies like Suncor Energy Inc. Changes in global demand for oil, economic growth rates, and environmental regulations can affect the company's profitability and stock performance.
Investing in Suncor Energy Inc. involves exposure to commodity price risk, as the company's revenue and profitability are closely tied to oil and gas prices. Fluctuations in commodity prices can impact the company's financial results and stock valuation.
Environmental and sustainability concerns in the energy industry may pose reputational risks for Suncor Energy Inc. Investors focused on ESG (Environmental, Social, and Governance) factors may consider the company's environmental impact and sustainability practices before making investment decisions.

SU Forecast - Frequently Asked Questions

: According to the research reports of 8 Wall Street equities research analysts, the average twelve-month stock price forecast for Suncor Energy is $55.83, with a high forecast of $68.00 and a low forecast of $45.00.
: 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Suncor Energy in the last year. There are currently 2 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SU shares.
: According to analysts, Suncor Energy's stock has a predicted upside of 44.42% based on their 12-month stock forecasts.
: Over the previous 90 days, Suncor Energy's stock had 2 upgrades by analysts.
: Suncor Energy has been rated by research analysts at BMO Capital Markets, Scotiabank, TD Securities, and Wolfe Research in the past 90 days.
: Analysts like Suncor Energy more than other "oils/energy" companies. The consensus rating score for Suncor Energy is 2.75 while the average consensus rating score for "oils/energy" companies is 2.61. Learn more on how SU compares to other companies.