Tudor Pickering Believes Suncor Energy (SU) Still Has Room to Grow

In a report released yesterday, Tudor Pickering from Tudor Pickering maintained a Buy rating on Suncor Energy (SU – Research Report), with a price target of C$33.00. The company's shares closed last Thursday at $24.01, close to its 52-week high of $25.73. Suncor Energy has an analyst consensus of Strong Buy, with a price target consensus of $30.19, which is a 20.5% upside from current levels. In a report issued on June 3, Goldman Sachs also maintained a Buy rating on the stock with a $27.00 price target. See today’s analyst top recommended stocks >> Based on Suncor Energy's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.68 billion and net profit of $821 million. In comparison, last year the company earned revenue of $7.39 billion and had a GAAP net loss of $3.53 billion. Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SU in relation to earlier this year. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. Suncor Energy, Inc. is a Canada-based integrated energy company which is specialized in producing synthetic crude from oil sands. The company also engages in exploration, acquisition, development, production, and marketing of crude oil in Canada and internationally. It also markets and trades in natural gas, crude oil, byproducts, refined products, and power. The post Tudor Pickering Believes Suncor Energy (SU) Still Has Room to Grow appeared first on TipRanks Financial Blog.

Tudor Pickering Believes Suncor Energy (SU) Still Has Room to Grow

In a report released yesterday, Tudor Pickering from Tudor Pickering maintained a Buy rating on Suncor Energy (SU – Research Report), with a price target of C$33.00. The company's shares closed last Thursday at $24.01, close to its 52-week high of $25.73.

Suncor Energy has an analyst consensus of Strong Buy, with a price target consensus of $30.19, which is a 20.5% upside from current levels. In a report issued on June 3, Goldman Sachs also maintained a Buy rating on the stock with a $27.00 price target.

Based on Suncor Energy's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.68 billion and net profit of $821 million. In comparison, last year the company earned revenue of $7.39 billion and had a GAAP net loss of $3.53 billion.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SU in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Suncor Energy, Inc. is a Canada-based integrated energy company which is specialized in producing synthetic crude from oil sands. The company also engages in exploration, acquisition, development, production, and marketing of crude oil in Canada and internationally. It also markets and trades in natural gas, crude oil, byproducts, refined products, and power.

The post Tudor Pickering Believes Suncor Energy (SU) Still Has Room to Grow appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

What's Your Reaction?

like
0
dislike
0
love
0
funny
0
angry
0
sad
0
wow
0

Next Article

Microsoft Plans More China Data Centers in Asia Cloud Push – Report

Microsoft (MSFT) plans to build four more data centers in China by early 2022 to add to the existing six it already operates in the country, according to a Bloomberg Read More... The post Microsoft Plans More China Data Centers in Asia Cloud Push – Report appeared first on TipRanks Financial Blog.

Microsoft Plans More China Data Centers in Asia Cloud Push – Report

Microsoft () plans to build four more data centers in China by early 2022 to add to the existing six it already operates in the country, according to a Bloomberg report citing confidential sources. The planned additional facilities are part of the company’s efforts to expand its cloud computing capacity across Asia.

The global demand for internet services increased during the COVID-19 pandemic. Microsoft seeks to take advantage of this with capacity expansion.  The company aims to double its intelligent cloud capacity in China in the coming years. 

Microsoft has a local partner that operates its data centers in China. Its existing six data centers in the country are managed by a company called 21Vianet, according to Bloomberg.

Chinese companies are increasingly migrating to the cloud after being slow to do so in past years, and Microsoft is expecting a boom in data storage and management demand. China’s cloud market is expected to reach $46 billion in 2023. Microsoft’s commercial cloud revenue for the quarter ended March 31 increased 33% to $17.7 billion. (See on TipRanks)

Tigress Financial analyst Ivan Feinseth recently reiterated a Buy rating on Microsoft stock with a price target of $303. The analyst’s price target implies 16.14% upside potential.

Feinseth believes that ongoing digital transformation will add growth to Microsoft's profit, leadership position, and revenue.

Consensus among analysts is a Strong Buy based on 26 Buys. The of $297.96 implies 14.20% upside potential to current levels.

MSFT scores a “Perfect 10” on TipRanks’ rating system, indicating that the stock has strong potential to outperform market expectations.

Related News:
BlackRock to Snap Up Baringa Partners’ Climate Change Scenario Model
CureVac Delivers Unsatisfactory Vaccine Efficacy Results; Shares Fall 45%
Spotify Unveils New Audio Interactive Feature

The post Microsoft Plans More China Data Centers in Asia Cloud Push – Report appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.