Scotiabank Reaffirms Their Hold Rating on Surge Energy (SGY)


In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Surge Energy (TSX: SGY). Analyst Cameron Bean from Scotiabank remains neutral on the stock and has a C$3.80 price target.

According to TipRanks.com, Bean is ranked #4558 out of 4878 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Surge Energy with a C$3.38 average price target, implying a 29.5% upside from current levels. In a report issued on September 20, RBC Capital also reiterated a Hold rating on the stock with a C$3 price target.

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Surge Energy’s market cap is currently C$594.7M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.78.

Surge Energy, Inc. engages in the exploration, development, and production of oil and gas properties. It operates light and medium gravity crude oil properties, primarily in Alberta, Saskatchewan, and Manitoba characterized by oil in place, and crude oil reservoirs. The company was founded on January 26, 1998 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$2.61, close to its 52-week high of C$2.76.

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