Suncor Energy (SU) NewsBite - Suncor Higher on Upgrade

Posted on Wednesday, July 23, 2008 2:13 PM

Suncor Energy Inc. (SU) opened at 54.58. So far today, the stock has hit a low of 53 and a high of 55.58. SU is now trading at 54.84, up 0.48 (0.88%). The stock hit its 52 week high of 74.27 in May and set its 52 week low of 39.67 in January. SU has been rising for most of the past year. Suncor Energy shares have been trading higher in today's session after a CIBC World Markets analyst upped the stock to "Sector Outperform" from "Sector Perform." Technical indicators for the stock are bearish and steady while S&P gives SU a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $45 range SU stock could fall up to 17.9% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]