Surge Energy Inc (SGY) Upgraded to Buy at Paradigm Capital

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Surge Energy Inc (TSE:SGY) was upgraded by investment analysts at Paradigm Capital from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a C$3.00 price target on the stock, up from their prior price target of C$2.50. Paradigm Capital’s target price would suggest a potential upside of 21.95% from the company’s current price.
SGY has been the subject of several other reports. National Bank Financial reduced their target price on Surge Energy from C$3.50 to C$3.00 in a research note on Wednesday, August 3rd. Royal Bank Of Canada restated a “sector perform” rating and issued a C$2.75 target price on shares of Surge Energy in a research note on Wednesday. Scotiabank restated a “sector perform” rating and issued a C$3.00 target price on shares of Surge Energy in a research note on Friday, July 22nd. TD Securities restated a “buy” rating and issued a C$3.25 target price on shares of Surge Energy in a research note on Friday, July 22nd. Finally, CIBC initiated coverage on Surge Energy in a research note on Wednesday, June 15th. They issued an “underperform” rating and a C$2.50 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of C$2.94.

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Surge Energy (TSE:SGY) traded up 2.50% during trading on Wednesday, hitting $2.46. The stock had a trading volume of 1,692,604 shares. The firm has a 50 day moving average price of $2.39 and a 200-day moving average price of $2.37. Surge Energy has a 1-year low of $1.40 and a 1-year high of $3.72. The firm’s market capitalization is $543.78 million.

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