Surge Energy (TSE:SGY) Given New C$1.75 Price Target at TD Securities

Surge Energy (TSE:SGY) had its price target hoisted by investment analysts at TD Securities from C$1.65 to C$1.75 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 50.21% from the stock’s current price.

Several other research firms also recently issued reports on SGY. GMP Securities decreased their price objective on shares of Surge Energy from C$1.95 to C$1.75 in a research note on Friday, June 28th. National Bank Financial reduced their price objective on shares of Surge Energy from C$2.25 to C$1.75 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Canaccord Genuity dropped their target price on shares of Surge Energy from C$2.25 to C$2.00 in a report on Tuesday, July 9th. CIBC dropped their target price on shares of Surge Energy from C$2.25 to C$1.75 in a report on Thursday, July 18th. Finally, Raymond James set a C$1.75 target price on Surge Energy and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of C$2.32.

TSE:SGY traded up C$0.03 during trading hours on Tuesday, hitting C$1.17. The company’s stock had a trading volume of 323,265 shares, compared to its average volume of 974,108. The company has a market capitalization of $357.94 million and a PE ratio of -3.95. The company has a fifty day simple moving average of C$1.24. The company has a debt-to-equity ratio of 56.97, a current ratio of 0.79 and a quick ratio of 0.69. Surge Energy has a 52-week low of C$1.06 and a 52-week high of C$2.73.

Surge Energy Company Profile

Surge Energy Inc engages in the exploration, development, and production of oil and gas in western Canada. It holds interest in the Greater Sawn Lake assets located in Northern Alberta; Nipisi property located to the north of the town of Slave Lake in northwestern Alberta; and Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta.

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Analyst Recommendations for Surge Energy (TSE:SGY)

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