Majority of Analysts Rate Suncor a ‘Buy’ after 2Q16 Earnings

Analyst surveys show that eight of the nine companies surveyed rated Suncor (SU) a “buy,” “overweight,” or “outperform.” The highest and lowest 12-month price targets were $37 and $31, respectively, indicating a 41% and 18% rise from its current levels, respectively. None of the companies surveyed gave SU a “sell” rating. The average price target at $33 implies a 26% gain.

By comparison, Statoil (STO), PetroChina (PTR), and Cenovus Energy (CVE) have been rated a “buy” by 33%, 25%, and 52% of analysts surveyed, respectively. The iShares North American Natural Resources (IGE) has ~22% exposure to integrated energy stocks.