BMO Capital Markets Downgrading Suncor Energy

BMO Capital Markets is out with a research report on Suncor Energy (NYSE: SU) and is downgrading shares to Market Perform, and is lowering its price target to $36 from $48.

In a note to clients, BMO Capital Markets writes, "We are lowering our investment rating for Suncor to Market Perform from Outperform and lowering our target price to $36 from $48 in conjunction with our commodity price update and change to our sector outlook."

Shares of SU closed at $29.58 on Friday.