Spartan Delta (TSE:SDE) Stock Price Expected to Rise, Scotiabank Analyst Says

Spartan Delta (TSE:SDE) had its price target boosted by stock analysts at Scotiabank from C$8.00 to C$11.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 27.91% from the stock’s current price.

Several other research analysts have also recently issued reports on SDE. National Bankshares increased their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Desjardins upped their target price on Spartan Delta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a research report on Tuesday, January 6th. Ventum Financial increased their price target on Spartan Delta from C$7.00 to C$9.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. BMO Capital Markets boosted their price objective on Spartan Delta from C$7.50 to C$9.00 in a research note on Tuesday, January 6th. Finally, TD Securities upped their price objective on Spartan Delta from C$7.50 to C$9.50 and gave the company a “buy” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Spartan Delta currently has a consensus rating of “Buy” and a consensus price target of C$9.29.

Spartan Delta Stock Performance

SDE stock opened at C$8.60 on Wednesday. The company has a 50-day simple moving average of C$7.51 and a 200 day simple moving average of C$6.02. The company has a market capitalization of C$1.72 billion, a P/E ratio of 43.00 and a beta of 0.22. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 28.49. Spartan Delta has a fifty-two week low of C$2.39 and a fifty-two week high of C$8.73.

Spartan Delta Company Profile

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company’s culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company’s organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.