Scotiabank Has Lowered Expectations for Logan Energy (CVE:LGN) Stock Price

Logan Energy (CVE:LGN) had its price target reduced by stock analysts at Scotiabank from C$1.65 to C$1.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 87.50% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. ATB Capital set a C$1.20 price objective on Logan Energy and gave the stock an “outperform” rating in a research note on Monday, December 8th. CIBC lowered shares of Logan Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the company from C$1.15 to C$0.95 in a report on Tuesday, January 13th. Cibc Captl Mkts lowered shares of Logan Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 13th. Finally, Atb Cap Markets upgraded Logan Energy to a “strong-buy” rating in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$1.21.

Logan Energy Stock Performance

CVE LGN remained flat at C$0.80 during mid-day trading on Wednesday. The company’s stock had a trading volume of 184,107 shares, compared to its average volume of 232,503. The stock has a market capitalization of C$476.54 million, a P/E ratio of 20.00 and a beta of 5.15. The firm’s fifty day simple moving average is C$0.82 and its two-hundred day simple moving average is C$0.78. Logan Energy has a 12-month low of C$0.49 and a 12-month 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.