Logan Energy (CVE:LGN) Price Target Cut to C$1.50 by Analysts at CIBC

Logan Energy (CVE:LGN) had its price target cut by equities researchers at CIBC from C$1.75 to C$1.50 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price indicates a potential upside of 87.50% from the company’s current price.

A number of other equities research analysts have also recently commented on LGN. Scotiabank raised shares of Logan Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 14th. National Bankshares set a C$1.50 target price on shares of Logan Energy and gave the company an “outperform” rating in a report on Friday. Finally, National Bank Financial upgraded shares of Logan Energy to a “strong-buy” rating in a report on Thursday, October 3rd. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$1.47.

Logan Energy Stock Performance

Logan Energy stock traded down C$0.02 during trading hours on Tuesday, reaching C$0.80. 326,385 shares of the stock were exchanged, compared to its average volume of 228,889. The stock has a market cap of C$372.43 million and a P/E ratio of -89.50. Logan Energy has a 52-week low of C$0.73 and a 52-week high of C$1.03. The firm’s 50 day moving average is C$0.83 and its 200 day moving average is C$0.86.

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.