Thu Sep 19 05:48:09 UTC 2024: ## Suncor Energy’s Price Target Adjusted Amid Mixed Analyst Sentiment

**Calgary, Canada – September 19, 2024** – Suncor Energy (TSE:SU, NYSE:SU), a major Canadian integrated energy company, saw its price target reduced by Royal Bank of Canada to C$64.00 from C$67.00. This adjustment represents a potential upside of 27.08% from the current stock price, according to BayStreet.CA.

The revised target comes amidst a mixed bag of analyst opinions. While some analysts maintain a bullish outlook, others have adopted a more cautious approach. BMO Capital Markets upgraded Suncor to “outperform” from “market perform” and set a C$62.00 price target, while Jefferies Financial Group lowered their target to C$55.00 and assigned a “hold” rating.

Suncor’s recent quarterly earnings report, released on August 6th, showed strong performance, with EPS exceeding analysts’ expectations at C$1.27 compared to the consensus estimate of C$1.06. However, insider selling activity has also been observed, with Senior Officer Kristopher Peter Smith selling 100,000 shares on June 24th and Senior Officer Jacqueline Sue Moore selling 37,700 shares on August 19th.

Overall, the stock currently holds an average rating of “Moderate Buy” with a consensus price target of C$61.25, based on MarketBeat data. Despite the recent price target reduction by Royal Bank of Canada, the company’s strong earnings performance and continued positive analyst sentiment suggest potential for future growth.

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