Spartan Delta reinstated with an Outperform at BMO Capital

BMO Capital reinstated coverage of Spartan Delta with an Outperform rating and C$5.50 price target. The firm believes that combined with a strong balance sheet for further acquisitions, and plenty of Duvernay land and results yet to be fully disclosed publicly, it is “very encouraged” for what could transpire in terms of the economics of this formation, the analyst tells investors in a research note.