Oct. 12 at 11:54 AM
$LOECF Stifel starts 'differentiated investment opportunity' Logan Energy with a Buy
Stifel analyst Cody Kwong initiated coverage of Logan Energy with a Buy rating and C
$1.50 price target. The "pure play Montney vehicle" spun out of Spartan Delta "screens as a differentiated investment opportunity" given its focus on growth instead of the recently popular return of capital business plans in the sector, the analyst tells investors. Given management's proven track record of being commercial and over
$100M of cash in the bank for organic and inorganic growth, the firm believes Logan Energy will be "a name of focus for both investors and inventory-hungry peers," the analyst added.