Outperform BMO’s Jeremy McCrea moved his Surge Energy Inc. target to $11 from $10 with an “outperform” rating. The average is $11.75.
“When we look back at the best performing companies, they typically have common attributes: 1) a change in asset performance; 2) an inexpensive valuation; and 3) are ‘off-the-radar’, setting up favorable entry points. For Surge, we see potential for outsized gains as the company approaches its final debt target in 2Q25. Q2 reinforced prior themes: strong Sparky well results, highest cashflow margin since 2014, new 3D seismic/designs in expanded Sparky inventory (Hope Valley) to aid in well performance and reiteration of higher growth to come,” he said.