Logan Energy (CVE:LGN) Rating Increased to Strong-Buy at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Logan Energy (CVE:LGN) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Scotiabank dropped their price objective on Logan Energy from C$1.65 to C$1.50 and set an “outperform” rating for the company in a report on Wednesday, January 21st. ATB Cormark Capital Markets raised shares of Logan Energy to a “moderate buy” rating in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, Logan Energy currently has a consensus rating of “Strong Buy” and a consensus target price of C$1.21.

Logan Energy Stock Down 1.1%

Logan Energy stock traded down C$0.01 during midday trading on Wednesday, reaching C$0.94. The stock had a trading volume of 215,841 shares, compared to its average volume of 599,946. The firm has a market cap of C$559.93 million, a price-to-earnings ratio of 23.50 and a beta of 5.15. Logan Energy has a 52-week low of C$0.49 and a 52-week high of C$0.98. The company has a fifty day moving average of C$0.80 and a 200 day moving average of C$0.81.

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.