BMO Capital Markets Increases Surge Energy (TSE:SGY) Price Target to C$0.50
Surge Energy (TSE:SGY) had its price objective hoisted by analysts at BMO Capital Markets from C$0.40 to C$0.50 in a research note issued on Monday, BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 51.52% from the stock’s current price.
Several other equities research analysts also recently issued reports on SGY. Raymond James set a C$0.25 price objective on shares of Surge Energy and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Stifel Firstegy downgraded shares of Surge Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, March 11th. Canaccord Genuity downgraded shares of Surge Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from C$1.75 to C$0.60 in a research note on Tuesday, March 10th. TD Securities upped their target price on shares of Surge Energy from C$0.35 to C$0.40 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, National Bank Financial upped their target price on shares of Surge Energy from C$0.40 to C$0.50 and gave the company a “sector perform” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of C$0.84.
SGY opened at C$0.33 on Monday. The company has a quick ratio of 0.49, a current ratio of 1.07 and a debt-to-equity ratio of 689.85. Surge Energy has a 52-week low of C$0.19 and a 52-week high of C$1.35. The company has a 50 day moving average of C$0.33 and a two-hundred day moving average of C$0.62. The company has a market cap of $110.57 million and a P/E ratio of -0.14.
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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