Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Surge Energy (TSX: SGY) received a Buy rating from Raymond James’ analyst Jeremy Mccrea, with a C$3.50 price target.
According to TipRanks.com, Mccrea is ranked #1881 out of 4875 analysts.
Currently, the analyst consensus on Surge Energy is a Moderate Buy with an average price target of C$3.35, implying a 45.0% upside from current levels. In a report released today, TD Securities also maintained a Buy rating on the stock with a C$3.50 price target.
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Based on Surge Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$3.02 million. In comparison, last year the company had a net profit of C$6.93 million.
Surge Energy, Inc. is an oil and gas exploration, development, and production company. 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 Friday at C$2.31.
