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Analyst Actions: BMO, TD Join Surge with Upgrades of the Producer Stock Following $106M Acquisition

Surge Energy (SGY.TO) is up 3% today at $8.98 a share, winning an upgrade to Outperform from BMO Capital Markets, which also boosted its price target for the stock to $12.50 a share, up from $11.00.

TD Securities also tweaked its price target for Surge shares, one day after starting coverage of the stock as a Buy. The new rating accompanied a $13.00 a share price target, only to see that original target eclipsed this morning with a $14.50 target.

The surge in activity for the energy follows Surge yesterday moving to acquire a privately held oil and gas company from Alberta producing about 1,200 barrels of light oil daily. The purchase price was $106 million.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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