Suncor Energy Inc. (NYSE:SU) is included among the 12 Best Large Cap Energy Stocks to Buy Now.
Suncor Energy Inc. (NYSE:SU) is a Canadian integrated energy company that extracts, produces, and provides energy from a mix of sources, ranging from oil sands to renewable fuels.
Suncor Energy Inc. (NYSE:SU) received a boost on March 12 when Goldman Sachs raised its price target on the stock from $55 to $62, while keeping its ‘Buy’ rating on the shares. The revised target, which indicates an upside of almost 4% from the current levels, comes as the analyst firm updated its estimates across the US and Canadian oil majors to reflect the supply disruptions in the Middle East.
The situation comes as an opportunity for American and Canadian producers, especially with oil prices reaching multi-year highs. Brent crude futures continue to trade over the $100 per barrel mark as Iran continues to target vessels trying to cross the Strait of Hormuz. As a result, Goldman Sachs has upped its price targets for various operators, despite their strong YTD performance.
With an annual dividend yield of 2.93%, Suncor Energy Inc. (NYSE:SU) was recently included in our list of the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.
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