Post by Westcoastenergyon May 06, 2026 8:06am
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Post# 36990836
Increased target price
Increased target priceIn today's online Globe & Mail, investing section:
"Seeing it “aggressively progressing,” National Bank’s Dan Payne bumped his target for Spartan Delta Corp. (SDE-T) to $16 from $15.50 with an “outperform” rating. Other changes include: Ventum Capital Markets’ Adam Gill to $15 from $14.50 with a “buy” rating and TD’s Aaron Bilkoski to $16 from $14 with a “buy” rating. The average is $12.75.“The company reported strong first quarter operating & financial results in line with expectations, including average production that continued to outpace expectations at 52.1 mboe/d (42-per-cent liquids) and associated CFPS of $0.39 (vs. consensus $0.40),” said Mr. Payne. “While gas prices remained weak through the period, it continues to backfill revenue with its liquids exposures that positively impacted realizations sequentially (up 10 per cent; oil & liquids revenue up 15-20 per cent quarter-over-quarter), and which in association with sound cash costs continued to deliver a solid cash netback of $17.34/boe (flat quarter-over-quarter) for the period. Those returns continued to fund its high-momentum program (volumes up 4 per cent quarter-over-quarter) within the context of its balance sheet (leverage exiting the period soundly at 0.8 times D/CF).”