CIBC upgraded Logan Energy (LOECF) to Outperformer from Neutral with a price target of C$1.15, up from C$0.95, following Logan’s acquisition of assets from Gran Tierra and the company’s share issuance. CIBC sees the acquisition as “highly strategic,” as it “consolidates working interest in the most attractive opportunities in Logan’s portfolio while also being 4% accretive to cash flow per share.”
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