Surge Energy (TSE:SGY) Given New C$9.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial raised its price target for Surge Energy from C$8.00 to C$9.00, indicating a potential upside of 17.65% from the current price.
• Other analysts have also issued positive ratings, with ATB Capital increasing their target to C$8.25 and Roth Capital setting it at C$8.50.
• Surge Energy's stock saw a 3.4% increase in trading, leading to a current price of C$7.65 and signaling market confidence.

Surge Energy (TSE:SGY - Get Free Report) had its target price increased by equities research analysts at Raymond James Financial from C$8.00 to C$9.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 17.65% from the stock's current price.

Other research analysts also recently issued reports about the company. ATB Capital lifted their price target on Surge Energy from C$7.50 to C$8.25 and gave the company an "outperform" rating in a report on Tuesday. Roth Capital set a C$8.50 target price on Surge Energy and gave the company a "buy" rating in a research note on Monday, July 14th. Three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$9.89.

Surge Energy Stock Up 3.4%

SGY stock traded up C$0.25 during trading on Tuesday, hitting C$7.65. 923,235 shares of the company's stock traded hands, compared to its average volume of 567,691. The firm has a market capitalization of C$769.31 million, a P/E ratio of -9.59, a PEG ratio of 0.59 and a beta of 2.54. Surge Energy has a 1 year low of C$4.37 and a 1 year high of C$7.84. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 31.48. The business has a fifty day simple moving average of C$6.16 and a two-hundred day simple moving average of C$5.67.

Insider Transactions at Surge Energy

In other Surge Energy news, Senior Officer Murray Bye purchased 11,845 shares of the stock in a transaction on Friday, May 9th. The stock was acquired at an average price of C$4.88 per share, with a total value of C$57,803.60. 1.97% of the stock is owned by corporate insiders.

Surge Energy Company Profile

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.

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