Spartan Delta price target lowered to C$5 from C$7 at CIBC

CIBC lowered the firm’s price target on Spartan Delta (DALXF) to C$5 from C$7 and keeps an Outperformer rating on the shares. The decision from OPEC+ to accelerate the phaseout of voluntarily curtailed production surprised the market, and concerns over the pending supply and demand balance sharply pushed oil prices lower, the analyst tells investors in a research note. The firm adjusted oil price expectations lower as part of a Q1 earnings preview for the energy sector.