The Globe and Mail reports in its Friday edition that ATB Capital Markets analyst Amir Arif continues to rate Surge Energy "outperform." The Globe's David Leeder writes that Mr. Arif gave his share target a 50-cent boost to $13. Analysts on average target the shares at $12.30. Mr. Arif advanced his share target after meeting with company management. Mr. Arif says in a note: "We believe that the outperformance showing up for Surge Energy stock is in its infancy. Heading into 2024, we view Surge as very well positioned, with room for a dividend bump, significant further debt reduction, a firming up of its current open hole multilateral successes, and optionality to find additional pockets where open hole multilaterals would make economic sense on its existing acreage -- highlighting the free call option associated with its large oil in place. Additionally, divcos like Surge are well positioned to be consolidators and acquirers in its existing core areas of Sparky and SE Sask., and with the equity markets opening up on both sides of the border, the potential for accretive acquisitions could also enter the picture in 2024. ... We believe Surge offers among the best exposures in the midcap space for WTI sensitivity."