Supreme Court to Hear Suncor Climate Lawsuit Appeal
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 17 2024
0mins
Should l Buy SU?
Source: investopedia.com
Suncor Energy shares rose as the company reached a 52-week high amid market conditions.
The U.S. Supreme Court has agreed to hear an appeal from Suncor Energy regarding a Colorado Supreme Court ruling that allows Boulder to pursue a lawsuit for unspecified damages related to climate change. This legal challenge could impose significant financial pressure on Suncor, raising concerns among investors about the company's future profitability in light of increasing climate change litigation. The outcome of this case may influence the long-term value of Suncor and similar companies in the oil industry.
Investors are closely monitoring the implications of this legal battle, as it could reshape the landscape for oil companies facing climate-related lawsuits, potentially affecting their market performance.
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Analyst Views on SU
Wall Street analysts forecast SU stock price to fall
11 Analyst Rating
7 Buy
4 Hold
0 Sell
Moderate Buy
Current: 61.160
Low
41.06
Averages
49.83
High
70.00
Current: 61.160
Low
41.06
Averages
49.83
High
70.00
About SU
Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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