Surge Energy Inc (SGY) Stock Rating Reaffirmed by Scotiabank
Surge Energy Inc (TSE:SGY)‘s stock had its “sector perform” rating restated by stock analysts at Scotiabank in a research note issued to investors on Thursday. They currently have a C$3.00 price objective on the stock. Scotiabank’s price target would suggest a potential upside of 14.07% from the company’s current price.
Other research analysts have also recently issued research reports about the company. CIBC raised their price target on Surge Energy from C$2.75 to C$3.00 in a research report on Wednesday, October 19th. National Bank Financial decreased their price target on Surge Energy from C$3.50 to C$3.00 in a research report on Wednesday, August 3rd. TD Securities restated a “buy” rating and issued a C$3.25 price target on shares of Surge Energy in a research report on Friday, July 22nd. Paradigm Capital upgraded Surge Energy from a “hold” rating to a “buy” rating and lifted their target price for the company from C$2.50 to C$3.00 in a research report on Wednesday, September 7th. Finally, FirstEnergy Capital lifted their target price on Surge Energy from C$3.00 to C$3.25 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$2.99.
Surge Energy (TSE:SGY) opened at 2.63 on Thursday. The firm’s market capitalization is $582.85 million. Surge Energy has a 52-week low of $1.40 and a 52-week high of $3.13. The firm’s 50-day moving average is $2.79 and its 200-day moving average is $2.51.
In related news, Director Paul Colborne acquired 10,000 shares of the business’s stock in a transaction that occurred 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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