Suncor Energy Stock May Be Worth Watching If Oil Pulls Back

Suncor Energy Inc. (NYSE:SU) is among the 13 Best Crude Oil Stocks to Buy According to Analysts.

On April 9, Wells Fargo lowered its price target on Suncor Energy Inc. (NYSE:SU) to C$96 from C$97 while maintaining an Equal Weight rating. The firm also noted that, as seen in 2022, a mid-cycle correction in oil prices could create an attractive entry point for advantaged energy stocks. That comment is particularly relevant for Suncor, which owns long-life oil sands assets that can become highly profitable in stable pricing environments.

Earlier, on April 5, Morgan Stanley raised its price target on Suncor Energy Inc. (NYSE:SU) to C$92 from C$86 and maintained an Equal Weight rating, citing improved growth and greater visibility following the company’s investor day. Higher visibility often matters significantly for institutional investors, especially in cyclical sectors like energy.

Suncor Energy Inc. (NYSE:SU) is a Calgary-based integrated energy company and Canada’s leading producer of bitumen and synthetic crude from the Athabasca oil sands. Founded in 1917 as Sun Company of Canada, Suncor was a pioneer in the oil sands industry and launched the first commercial oil sands development in 1967. Today, it combines upstream production with refining and retail operations, creating a more balanced earnings model.

While we acknowledge the risk and potential of SU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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