09:35:04 EDT Tue 14 Jul 2020
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Surge Energy Inc
Symbol SGY
Shares Issued 335,068,916
Close 2020-04-16 C$ 0.21
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Globe says Kepler lowers Surge to "hold" from "buy"

2020-04-16 09:36 ET - In the News

The Globe and Mail reports in its Thursday, April 16, edition that after Surge Energy (21 cents) said it was suspending its dividend and guidance, Laurentian Bank Securities analyst Todd Kepler downgraded the shares to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kepler shaved a dime from his share target, taking it to 30 cents, which is 34 cents ahead of the consensus. Mr. Kepler says in a note, "Although, we believe that capital preservation and balance sheet protection remains the utmost importance as the oil industry wades through these unprecedented times we have reduced our target price to reflect our updated NAV." The Globe reported on Sept. 22, 2018, that Industrial Alliance Securities analyst Michael Charlton rated Surge Energy "buy" in new coverage. It was then worth $2.68. The Globe reported on March 13, 2019, that Canaccord Genuity analyst Anthony Petrucci rated Surge "buy." It was then worth $1.38. The Globe reported on April 9, 2019, that Mr. Charlton continued to rate Surge Energy "buy." Mr. Charlton said he believed Surge Energy was poised to benefit from rising oil prices. It could then be had for $1.42.

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