Spartan Energy (TSE:SPE) was downgraded by analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday. They presently have a C$7.00 price target on the stock, down from their previous price target of C$7.50. BMO Capital Markets’ target price suggests a potential upside of 11.11% from the stock’s current price.
Other analysts have also issued reports about the company. CIBC lifted their price objective on Spartan Energy to C$9.00 in a research report on Tuesday, March 20th. National Bank Financial lowered their price objective on Spartan Energy to C$9.00 and set an “outperform” rating for the company in a research report on Thursday, April 12th. Four analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of C$7.20.
SPE stock traded up C$0.13 during midday trading on Tuesday, reaching C$6.30. The stock had a trading volume of 3,020,291 shares, compared to its average volume of 1,412,503. Spartan Energy has a twelve month low of C$5.03 and a twelve month high of C$7.80.
Spartan Energy Company Profile
Spartan Energy Corp, formerly Alexander Energy Ltd is a Canada-based oil and natural gas exploration and production company with producing properties focused in Saskatchewan. The Company’s properties include Southeast Saskatchewan, West Central Saskatchewan and Alexander Alberta. The Southeast Saskatchewan property focuses on conventional Mississippian targets, primarily in the Frobisher/Alida and Midale formations.
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