Cannaccord Genuity upgrades SGY to 50 cents stabilizes.”
* Surge Energy Inc. (SGY-T) to “speculative buy” from “hold” with a 50-cent target, up from 30 cents. Average: 36 cents.
Mr. Petrucci: “Despite the recent run in oil prices, SGY has yet to see a material increase in share price and should be in line for a rerating, in our view. SGY benefits from significant oil in place, lower decline assets, and a highly economic play in the Sparky.”