Pengrowth Energy (NYSE:PGH) has certainly been a volatile stock as of late, rising and following with energy prices. However, I think the stock is finally ready to breakout. TD Securities recently upgraded the stock to buy from hold, sending shares higher by nearly 6%. While I normally discount the rating gyrations from the major firms, for Pengrowth, an upgrade to buy is a major event as the stock receives relatively little coverage. In addition, Pengrowth's recently held investor day contained several bullish projections, which I believe will lead to considerable improvements in Pengrowth's fundamentals in 2014 and beyond.
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Before I get into the details of why Pengrowth is a buy, a brief over...
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