Desjardins Thinks Spartan Energy’s Stock is Going to Recover

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Materials sector company, Spartan Energy (TSX: SPE). Analyst Kristopher Zack from Desjardins reiterated a Buy rating, with a C$12 price target.

According to TipRanks.com, Zack is ranked #4483 out of 4588 analysts.

Currently, the analyst consensus on Spartan Energy is Strong Buy and the average price target is C$7.50, representing a 25.2% upside.

In a report issued on June 16, BMO Capital also reiterated a Buy rating on the stock with a C$3.25 price target.

Spartan Energy’s market cap is currently C$1.05B and has a P/E ratio of 0.

Spartan Energy Corp. is a oil and natural gas exploration and production company with producing properties in Alberta. It current projects include Southeast Saskatchewan, West Central Saskatchewan, Alberta, Manitoba and North Dakota. The company was founded on December 12, 1988 and is headquartered in Calgary, Canada.

The company’s shares closed on Tuesday at $5.99, close to its 52-week high of $10.95.