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Investing.com - Roth/MKM initiated coverage on Logan Energy Corp (TSX:LGN) (OTC:LOECF) with a Buy rating and a price target of C$1.20, citing the company’s superior production growth compared to peers.
The research firm projects Logan Energy will grow production per share by 35% in 2025 and 24% in 2026, significantly outpacing its small-cap Montney peer group, which is expected to grow by 11% and 9% over the same periods according to consensus estimates.
Roth/MKM attributes the near-term growth to capital deployment into high-return Montney wells at Simonette and Pouce Coupe, with finding and development costs estimated to be low and recycle ratios averaging 2.8x.
The firm calculates that Logan Energy’s after-tax internal rates of return exceed 100% at US$70 WTI oil prices, positioning the company for strong profitability as it expands operations.
Roth/MKM forecasts Logan Energy will begin generating free cash flow in 2027 once production reaches 20 Mboepd, with plans to increase output to 24-27 Mboepd by the fourth quarter of 2028, offering investors a multi-year growth trajectory.
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