Canaccord Genuity Reiterates a 'Buy' on Suncor Energy (SU); In a "Turnaround" and/or MENA Overhang?
Tweet
Share
E-mailGet Alerts SU Hot Sheet
Price: $68.42 +0.71%
Rating Summary:
15 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Canaccord Genuity reiterates a 'Buy' on Suncor Energy (NYSE: SU), PT $52.
Canaccord analyst says, "SU announced decent Q1 results yesterday and provided a positive April oil sands production number; however, the stock underperformed peers by an average of 3% yesterday. We believe the underperformance could be due to the decline in oil prices, SU’s Libyan and Syrian exposure, and possibly due to potential concerns that the Upgrader 2 turnaround could take longer than the planned 6 to 7 weeks. However, we would use this underperformance and any potential further underperformance as a buying opportunity."
For more ratings news on Suncor Energy click here and for the rating history of Suncor Energy click here.
Shares of Suncor Energy closed at $43.69 yesterday.
Canaccord analyst says, "SU announced decent Q1 results yesterday and provided a positive April oil sands production number; however, the stock underperformed peers by an average of 3% yesterday. We believe the underperformance could be due to the decline in oil prices, SU’s Libyan and Syrian exposure, and possibly due to potential concerns that the Upgrader 2 turnaround could take longer than the planned 6 to 7 weeks. However, we would use this underperformance and any potential further underperformance as a buying opportunity."
For more ratings news on Suncor Energy click here and for the rating history of Suncor Energy click here.
Shares of Suncor Energy closed at $43.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- DA Davidson Starts Everus (ECG) at Buy
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
