Logan Energy (CVE:LGN) Price Target Cut to C$1.75 by Analysts at Scotiabank

Logan Energy (CVE:LGN) had its price objective dropped by equities research analysts at Scotiabank from C$1.85 to C$1.75 in a note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 143.06% from the stock’s current price.

A number of other equities research analysts have also commented on the stock. CIBC reduced their price objective on shares of Logan Energy from C$1.75 to C$1.50 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. National Bank Financial raised shares of Logan Energy to a “strong-buy” rating in a research note on Thursday, October 3rd. Cormark raised shares of Logan Energy to a “moderate buy” rating in a research note on Thursday, October 24th. Finally, National Bankshares set a C$1.50 target price on shares of Logan Energy and gave the stock an “outperform” rating in a research note on Friday, October 4th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$1.45.

Logan Energy Stock Performance

Shares of CVE:LGN remained flat at C$0.72 during trading on Friday. 21,003 shares of the stock were exchanged, compared to its average volume of 418,209. The business’s 50 day moving average is C$0.74 and its two-hundred day moving average is C$0.80. Logan Energy has a 12 month low of C$0.66 and a 12 month high of C$0.97. The stock has a market capitalization of C$384.50 million and a PE ratio of -89.50.

About Logan Energy

Logan Energy Corp. engages in the exploration, development and production of crude oil and natural gas properties. The company holds interest in the Simonette and Pouce Coupe properties in northwest Alberta; and the Flatrock property in northeastern British Columbia. Logan Energy Corp. was incorporated in 2023 and is headquartered in Calgary, Canada.