Spartan Energy Gets a Buy Rating from Scotiabank

By Carrie Williams

Spartan Energy (TSX: SPE), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. Analyst Cameron Bean from Scotiabank remains bullish on the stock and has a C$11.25 price target.

According to TipRanks.com, Bean is ranked #1947 out of 4600 analysts.

Currently, the analyst consensus on Spartan Energy is Strong Buy and the average price target is C$8.08, representing a 32.0% 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.

The company has a one year high of C$10.95 and a one year low of C$5.52. Currently, Spartan Energy has an average volume of 2.56M.

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 Friday at $6.12, close to its 52-week high of $10.95.