Scotiabank Issues Pessimistic Forecast for Logan Energy (CVE:LGN) Stock Price

Logan Energy (CVE:LGN) had its price target cut by equities researchers at Scotiabank from C$1.65 to C$1.50 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 89.87% from the stock’s previous close.

LGN has been the subject of a number of other reports. Cibc Captl Mkts cut shares of Logan Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. CIBC downgraded shares of Logan Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the company from C$1.15 to C$0.95 in a report on Tuesday, January 13th. Atb Cap Markets raised shares of Logan Energy to a “strong-buy” rating in a research note on Monday, December 8th. Finally, ATB Capital set a C$1.20 price target on Logan Energy and gave the company an “outperform” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$1.21.

Logan Energy Stock Performance

CVE LGN opened at C$0.79 on Wednesday. The business has a fifty day moving average price of C$0.82 and a 200 day moving average price of C$0.78. The company has a market cap of C$470.58 million, a P/E ratio of 19.75 and a beta of 5.15. Logan Energy has a one year low of C$0.49 and a one year 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.