Surge Energy (SGY) Given New C$1.75 Price Target at Raymond James

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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 Company Profile

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.

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