Scotiabank Reiterates “Sector Perform” Rating for Surge Energy Inc (SGY)
A number of other equities analysts have also commented on SGY. Royal Bank Of Canada lifted their price objective on Surge Energy from C$2.75 to C$3.00 and gave the stock a sector perform rating in a research note on Thursday, October 6th. CIBC initiated coverage on Surge Energy in a research note on Wednesday, June 15th. They issued an underperform rating and a C$2.50 price objective on the stock. TD Securities reiterated a buy rating and issued a C$3.25 price objective on shares of Surge Energy in a research note on Thursday, August 4th. Paradigm Capital upgraded Surge Energy from a hold rating to a buy rating and lifted their price objective for the stock from C$2.50 to C$3.00 in a research note on Wednesday, September 7th. Finally, FirstEnergy Capital lifted their price objective on Surge Energy from C$3.00 to C$3.25 and gave the stock an outperform rating in a research note on Wednesday, September 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of C$2.97.
Shares of Surge Energy (TSE:SGY) opened at 2.95 on Thursday. The firm’s market capitalization is $652.09 million. The stock’s 50 day moving average price is $2.52 and its 200-day moving average price is $2.40. Surge Energy has a 12 month low of $1.40 and a 12 month high of $3.43.
In related news, Director Paul Colborne acquired 10,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were bought at an average cost of C$2.58 per share, with a total value of C$25,800.00.
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