Logan Energy (CVE:LGN) Rating Increased to Strong-Buy at Scotiabank

Logan Energy (CVE:LGN) was upgraded by equities research analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued on Friday, Zacks.com reports.

Several other research analysts also recently weighed in on LGN. TD Securities upped their target price on shares of Logan Energy from C$1.40 to C$1.50 and gave the stock a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets set a C$1.25 target price on shares of Logan Energy and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Logan Energy presently has an average rating of “Buy” and an average target price of C$1.55.

Logan Energy Stock Performance

Shares of LGN opened at C$0.83 on Friday. The firm has a fifty day simple moving average of C$0.88 and a two-hundred day simple moving average of C$0.85. Logan Energy has a 1-year low of C$0.73 and a 1-year high of C$1.24.

Logan Energy (CVE:LGN) last announced its earnings results on Monday, March 18th. The company reported C$0.02 earnings per share for the quarter. Logan Energy had a negative net margin of 6.51% and a negative return on equity of 25.05%. The business had revenue of C$28.65 million during the quarter. As a group, analysts forecast that Logan Energy will post 0.0098896 earnings per share for the current fiscal year.

Logan Energy Company Profile

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.