Logan Energy (CVE:LGN) Downgraded by ATB Cormark Capital Markets to Tender

Key Points

• ATB Cormark downgraded Logan Energy from “outperform” to “tender,” maintaining a C$1.50 price target that implies approximately 3.23% downside from the reported share price.
• Analyst sentiment remains generally positive: Logan Energy has a consensus “Buy” rating and an average price target of C$1.47, with ratings ranging from “Strong Buy” to “Hold.”
• Shares rose 0.6% to C$1.55 in Tuesday trading, near the company’s 12-month high of C$1.59; trading volume was about 2.15 million shares, well above its average of roughly 830,000.

Logan Energy (CVE:LGN - Get Free Report) was downgraded by ATB Cormark Capital Markets from an "outperform" rating to a "tender" rating in a report issued on Tuesday, BayStreet reports. They presently have a C$1.50 price target on the stock. ATB Cormark Capital Markets's price objective would indicate a potential downside of 3.23% from the stock's current price.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada set a C$1.50 price target on shares of Logan Energy and gave the company a "moderate buy" rating in a research note on Monday, August 10th. National Bank Financial set a C$1.75 price target on Logan Energy and gave the company an "outperform" rating in a research note on Wednesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$1.47.

Logan Energy Trading Up 0.6%

Shares of CVE LGN traded up C$0.01 during midday trading on Tuesday, hitting C$1.55. The company's stock had a trading volume of 2,148,712 shares, compared to its average volume of 829,618. Logan Energy has a 12-month low of C$0.74 and a 12-month high of C$1.59. The firm has a market cap of C$1.07 billion, a P/E ratio of 25.83 and a beta of -0.14. The business's 50 day moving average is C$1.20 and its two-hundred day moving average is C$0.97.

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.

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