Logan Energy Corp V.LGN

National Bank

[retiredcf]

National Bank Financial’s Dan Payne initiated coverage of Logan Energy Corp. with an “outperform” recommendation and $1.35 target. 

“We believe it offers a substantial value proposition through multiple thematic tailwinds, including deployment of the significance of its funding to high impact development opportunities that should be magnified by operating leverage (low capital efficiency liquids bias compounded by optimization of underutilized regionally owned infrastructure) and offer option value to continued consolidation, and each in support of maximizing shareholder returns,” he said. “The confluence of these themes, as defined within, gives visibility to over 40-per-cent prospective PPS growth and 60-per-cent associated CFPS growth (as it achieves critical mass at 20 mboe/d over a five-year outlook), and which serves to underpin its prevailing valuation, where we see the stock trading at 7.0 times 2024 EV/DACF, but which could be backfilled through organic growth within the context of available resources and liquidity (arguably currently trading at 3-3.5 times its unrisked organic blue sky potential).”

[anticline]

Thanks for the update retiredcf. I hope other SDE owners excercised their warrants and can now hopefully sit back while we wait and see how the team executes. I'm positive that they already drilled around Simonette and thus should have at least one well that can be tested and brought on line. That area has produced excellent results for surrounding operators so might be why LGN kept that area

[retiredcf]

My pleasure anticline. Looks like there was initially a bit of sandbagging going on to keep the SP below $0.80 despite these positive analyst views. The trend may now be reversing and anyone with an investment time horizon longer than a few months, should be happy. GLTA 

[TouchDown12]

Retiredcf - I also want to add my thanks for helping me work through the LGN purchase strategy. I was able to fill my target Shares at a good prices b/c in part of your input. Continued success to you and the BB. TD12

[retiredcf]

You're welcome TD12. There aren't many analysts specifically covering the energy sector on BNN (Eric Nuttall is the only regular one with Josef Schacter appearing every now and then) but hopefully one of them will eventually pick up coverage. GLTA