CIBC Cuts Logan Energy (CVE:LGN) Price Target to C$1.50

Logan Energy (CVE:LGN) had its price target lowered by CIBC from C$1.75 to C$1.50 in a research report report published on Tuesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on LGN. National Bank Financial raised shares of Logan Energy to a strong-buy rating in a research report on Thursday, October 3rd. National Bankshares set a C$1.50 price objective on shares of Logan Energy and gave the stock an outperform rating in a report on Friday, October 4th. Finally, Scotiabank upgraded shares of Logan Energy from a hold rating to a strong-buy rating in a research report on Friday, June 14th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of C$1.47.

Logan Energy Price Performance

Shares of LGN stock opened at C$0.80 on Tuesday. The firm has a market cap of C$372.43 million and a PE ratio of -89.50. The company has a 50-day moving average of C$0.83 and a two-hundred day moving average of C$0.86. Logan Energy has a 1-year low of C$0.73 and a 1-year high of C$1.03.

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.