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Investing.com - Roth/MKM has initiated coverage on Surge Energy (TSX:SGY) (OTC:ZPTAF) with a Buy rating and a price target of C$8.50.
The research firm cited compelling value based on near-term EV/DACF metrics as a key factor in its positive outlook for the Canadian energy company.
Roth/MKM noted that Surge Energy’s recent operational results have been trending above previous guidance, contributing to the favorable assessment.
The firm expressed a positive view of Surge’s management team and board, along with its overall business strategy in the energy sector.
Roth/MKM specifically highlighted the company’s focus on maximizing returns and free cash flow from low-decline assets while minimizing risk, which it believes will likely yield high returns on capital invested over the long term.
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