Surge Energy (TSE:SGY) had its target price dropped by investment analysts at Raymond James from C$2.50 to C$1.75 in a research note issued to investors on Thursday. The firm presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 32.58% from the stock’s previous close.
Other analysts have also issued reports about the company. Canaccord Genuity cut their price target on Surge Energy from C$2.75 to C$2.25 and set a “buy” rating on the stock in a research note on Wednesday. TD Securities cut their price target on Surge Energy from C$1.95 to C$1.70 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada cut their price objective on Surge Energy from C$3.00 to C$2.50 in a research note on Tuesday, January 8th. National Bank Financial cut their price objective on Surge Energy from C$4.00 to C$2.50 and set an “outperform” rating on the stock in a research note on Monday, December 10th. Finally, CIBC cut their price objective on Surge Energy from C$3.00 to C$2.50 in a research note on Thursday, November 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Surge Energy presently has an average rating of “Buy” and a consensus price target of C$2.46.
Shares of SGY stock opened at C$1.32 on Thursday. Surge Energy has a 12 month low of C$1.22 and a 12 month high of C$2.76. The stock has a market cap of $426.82 million and a PE ratio of -69.47. The company has a current ratio of 0.92, a quick ratio of 0.77 and a debt-to-equity ratio of 37.50.
Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds interests in the Valhalla/Wembley property located to the northwest of Grand Prairie in northwestern Alberta; the Nipisi property located to the north of the town of Slave Lake, in northwestern Alberta; and the Nevis property located to the east of Red Deer, Alberta.
Featured Article: How to Trade Using Analysts Ratings
Receive News & Ratings for Surge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy and related companies with MarketBeat.com's FREE daily email newsletter.