Surge Energy downgraded at Raymond James on decreased cash flow estimates
As previously reported, Raymond James downgraded Surge Energy (ZPTAF) to Market Perform from Outperform with a price target of C$6, down from C$8.50. The firm lowered production estimates 4% in 2026 alongside trimming its capital spending outlook beyond 2025, adding that its cash flow per share estimates drop 19% and 35%, respectively, for this year…