TD Securities Maintains a Buy Rating on Surge Energy (SGY)


Today, an analyst has provided a rating update for the Materials sector company, Surge Energy (TSX: SGY). Analyst Juan Jarrah from TD Securities remains bullish on the stock and has a C$3.50 price target.

According to TipRanks.com, Jarrah is ranked #4800 out of 4875 analysts.

Surge Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$3.35, implying a 45.0% upside from current levels. In a report released today, Raymond James 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.

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