Have Analyst Ratings for Suncor Weakened ahead of 4Q Earnings?
Analyst ratings for Suncor
So far in this series, we’ve examined Suncor Energy’s (SU) 4Q16 estimates, segmental outlook, and stock performance ahead of its earnings release on February 8, 2017. In this part of the series, we’ll look at the analyst ratings for Suncor.
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Suncor has been rated by a total of 11 analysts. Eight of these analysts have assigned “buy” or “strong buy” ratings, three have assigned “hold” ratings, and no one has assigned “sell” or “strong sell” ratings on the stock. Suncor’s mean target price of $49 per share implies a 56% gain from the current level.
The January 2017 ratings for Suncor have changed compared to December 2016, where Suncor had more “buy” ratings. But, they have remained unchanged compared to January 2016 levels.
Also, in January 2017, Macquarie downgraded Suncor Energy from “outperform” to “neutral.”
Analyst ratings for peers
Suncor’s peers Royal Dutch Shell (RDS.A), Chevron (CVX), and ExxonMobil (XOM) have been rated as a “buy” by 92%, 69%, and 23% of analysts, respectively. Other global players like Total (TOT), YPF (YPF), and Petrobras (PBR) have been rated as “buy” by 43%, 77%, and 22% of analysts, respectively.
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