Logan Energy (CVE:LGN) Lowered to “Neutral” Rating by CIBC

Logan Energy (CVE:LGN) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$0.95 price objective on the stock, down from their previous price objective of C$1.15. CIBC’s price objective points to a potential upside of 17.28% from the company’s current price.

Several other analysts also recently weighed in on the company. ATB Capital set a C$1.20 target price on Logan Energy and gave the company an “outperform” rating in a research note on Monday, December 8th. Atb Cap Markets upgraded shares of Logan Energy to a “strong-buy” rating in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Logan Energy currently has an average rating of “Buy” and a consensus target price of C$1.28.

Logan Energy Trading Up 2.5%

CVE:LGN traded up C$0.02 during mid-day trading on Tuesday, hitting C$0.81. The stock had a trading volume of 59,838 shares, compared to its average volume of 287,751. The company has a 50 day simple moving average of C$0.83 and a 200-day simple moving average of C$0.77. The stock has a market capitalization of C$482.50 million, a price-to-earnings ratio of 20.25 and a beta of 5.15. Logan Energy has a 52 week low of C$0.49 and a 52 week high of C$0.90.

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.