Logan Energy (CVE:LGN) Rating Lowered to “Neutral” at CIBC

Logan Energy (CVE:LGN) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a report released on Tuesday,BayStreet.CA reports. They presently have a C$0.95 target price on the stock, down from their prior target price of C$1.15. CIBC’s price objective points to a potential upside of 17.28% from the stock’s current price.

A number of other equities research analysts have also weighed in on LGN. Atb Cap Markets raised shares of Logan Energy to a “strong-buy” rating in a report on Monday, December 8th. ATB Capital set a C$1.20 target price on Logan Energy and gave the company an “outperform” rating in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Logan Energy currently has an average rating of “Buy” and an average target price of C$1.28.

Logan Energy Price Performance

Logan Energy stock traded up C$0.02 during midday trading on Tuesday, hitting C$0.81. 59,838 shares of the company were exchanged, compared to its average volume of 287,751. The company has a market cap of C$482.50 million, a PE ratio of 20.25 and a beta of 5.15. Logan Energy has a fifty-two week low of C$0.49 and a fifty-two week high of C$0.90. The company’s fifty day moving average price is C$0.83 and its 200-day moving average price is C$0.77.

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.