Scotiabank Raises Suncor Energy's Price Target to C$60, Maintains Sector Perform Rating

Scotiabank has raised its price target for Suncor (SU) to C$60 from C$57, maintaining a Sector Perform rating. The analyst expects weak global oil prices to impact Canadian oil benchmarks in 2025 and 2026. The average target price for Suncor Energy Inc is $43.96, with an upside of 11.56% from the current price of $39.41. The estimated GF Value for Suncor Energy Inc in one year is $32.70, suggesting a downside of 17.03% from the current price.

Scotiabank has raised its price target for Suncor Energy Inc. (TSE:SU) to C$60 from C$57, maintaining a Sector Perform rating. The analyst expects weak global oil prices to impact Canadian oil benchmarks in 2025 and 2026. The average target price for Suncor Energy Inc. is C$43.96, with an upside of 11.56% from the current price of C$39.41. The estimated GF Value for Suncor Energy Inc. in one year is C$32.70, suggesting a downside of 17.03% from the current price.

The recent price target increase by Scotiabank follows a trend of analysts adjusting their estimates for Suncor Energy. Wells Fargo & Company raised their price objective from C$59.00 to C$60.00, Raymond James Financial increased their target from C$54.00 to C$56.00, and TD Securities decreased their target from C$63.00 to C$62.00. The consensus price target among analysts is C$62.50 [1].

Suncor Energy Inc. is an integrated energy company with operations in oil sands development, production, and upgrading, offshore oil and gas, petroleum refining, and retail distribution. The company has been actively investing in renewable fuels and hydrogen to transition to a low-emissions future.

The stock has seen recent insider activity, with Director Russell Girling purchasing 10,000 shares on June 6th, and Senior Officer Jacqueline Sue Moore selling 25,585 shares on June 17th. Institutional investors own 67.37% of the company's stock, reflecting significant interest in the company's prospects [3].

Suncor Energy Inc. reported earnings of C$0.91 per share for the quarter ending May 6th, beating analysts' estimates. The company's dividend was recently increased to C$0.4133 per share, with a payout ratio of 47.84% [3].

The unusual volume of put options traded on Suncor Energy Inc. on Wednesday, July 10th, indicates a high level of conviction among traders. This activity suggests that investors are positioning themselves for potential price movements, either up or down, in the near future [3].

Despite the recent price target increases, Suncor Energy Inc. faces challenges due to the anticipated weak global oil prices. The company's ability to navigate these conditions and maintain its dividend yield will be crucial for investors' confidence in the stock.

References:
[1] https://www.marketbeat.com/instant-alerts/suncor-energy-tsesu-given-new-c6000-price-target-at-scotiabank-2025-07-11/
[2] https://www.tipranks.com/news/the-fly/suncor-price-target-raised-to-c60-from-c57-at-scotiabank-thefly
[3] https://www.marketbeat.com/instant-alerts/traders-buy-large-volume-of-suncor-energy-put-options-nysesu-2025-07-10/