BMO Capital analyst Jeremy Mccrea maintained a Buy rating on Logan Energy Corp (LGN – Research Report) yesterday and set a price target of C$1.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Jeremy Mccrea has given his Buy rating due to a combination of factors that highlight Logan Energy Corp’s promising growth prospects and operational achievements. The company’s management team has a proven track record in mergers and acquisitions, which is crucial for generating shareholder value. With insiders holding a significant 20% stake and a strategic goal to increase production by more than 50% annually through M&A activities, there is a strong alignment with growth-oriented investors.
Additionally, Logan Energy Corp has demonstrated impressive operational performance, particularly in the Duvernay region. The company’s first Duvernay well exceeded expectations, showcasing the potential for further development in the area. The active quarter included successful drilling and completion activities in both the Montney and Duvernay locations, which are expected to drive future growth. The maintenance of production guidance and strategic infrastructure developments further support the positive outlook for the company.
Mccrea covers the Energy sector, focusing on stocks such as Obsidian Energy, Baytex Energy, and Surge Energy. According to TipRanks, Mccrea has an average return of 16.3% and a 52.31% success rate on recommended stocks.