Cormark Upgrades Logan Energy (CVE:LGN) to “Moderate Buy”

Logan Energy (CVE:LGN) was upgraded by equities researchers at Cormark to a “moderate buy” rating in a research report issued on Thursday, Zacks.com reports.

A number of other brokerages have also recently issued reports on LGN. CIBC dropped their price objective on Logan Energy from C$1.75 to C$1.50 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. National Bankshares set a C$1.50 price target on shares of Logan Energy and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, National Bank Financial raised shares of Logan Energy to a “strong-buy” rating in a research note on Thursday, October 3rd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Logan Energy has an average rating of “Buy” and a consensus target price of C$1.41.

Logan Energy Price Performance

Shares of LGN stock opened at C$0.79 on Thursday. The stock has a market capitalization of C$421.88 million and a price-to-earnings ratio of -89.50. The company’s fifty day simple moving average is C$0.81 and its two-hundred day simple moving average is C$0.85. Logan Energy has a 1 year low of C$0.73 and a 1 year high of C$1.02.

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.