Surge Energy Inc (TSE:SGY) was upgraded by stock analysts at CIBC from an “underperform” rating to a “sector perform” rating in a research report issued on Wednesday.
Several other equities research analysts have also recently commented on the company. Paradigm Capital raised Surge Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from C$2.50 to C$3.00 in a research note on Wednesday, September 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$2.75 target price on shares of Surge Energy in a research note on Wednesday, September 7th. National Bank Financial decreased their target price on Surge Energy from C$3.50 to C$3.00 in a research note on Wednesday, August 3rd. Scotiabank reaffirmed a “sector perform” rating and set a C$3.00 target price on shares of Surge Energy in a research note on Friday, July 22nd. Finally, TD Securities reaffirmed a “buy” rating and set a C$3.25 target price on shares of Surge Energy in a research note on Friday, July 22nd. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$2.94.
Shares of Surge Energy (TSE:SGY) opened at 2.68 on Wednesday. The stock has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.38. Surge Energy has a 52-week low of $1.40 and a 52-week high of $3.72. The company’s market capitalization is $592.41 million.
In other news, Director Paul Colborne acquired 10,000 shares of Surge Energy stock in a transaction on Thursday, September 8th. The stock was purchased at an average price of C$2.58 per share, with a total value of C$25,800.00.
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