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

Logan Energy (CVE:LGN) had its target price cut by Scotiabank from C$1.85 to C$1.75 in a report issued on Friday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 139.73% from the company’s current price.

LGN has been the subject of several other reports. National Bankshares set a C$1.50 target price on shares of Logan Energy and gave the stock an “outperform” rating in a research report on Friday, October 4th. CIBC lowered their price objective on Logan Energy from C$1.75 to C$1.50 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Cormark upgraded Logan Energy to a “moderate buy” rating in a research report on Thursday, October 24th. Finally, National Bank Financial upgraded shares of Logan Energy to a “strong-buy” rating in a research report on Thursday, October 3rd. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Logan Energy has an average rating of “Buy” and a consensus price target of C$1.45.

Logan Energy Price Performance

Shares of LGN stock opened at C$0.73 on Friday. Logan Energy has a 1-year low of C$0.66 and a 1-year high of C$0.97. The firm’s 50-day simple moving average is C$0.74 and its 200-day simple moving average is C$0.79. The firm has a market cap of C$389.84 million and a P/E ratio of -89.50.

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.