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CIBC Reaffirms Their Buy Rating on Spartan Delta (DALXF)

In a report released today, Dennis Fong from CIBC maintained a Buy rating on Spartan Delta (DALXFResearch Report), with a price target of C$19.50. The company’s shares opened today at $10.84.

According to TipRanks, Fong is an analyst with an average return of -1.3% and a 40.15% success rate. Fong covers the Utilities sector, focusing on stocks such as Spartan Delta, Baytex Energy, and Canadian Natural.

Currently, the analyst consensus on Spartan Delta is a Strong Buy with an average price target of $15.21, implying a 40.31% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a C$18.00 price target.

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Based on Spartan Delta’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $326.17 million and a net profit of $61.18 million. In comparison, last year the company earned a revenue of $71.07 million and had a net profit of $59.16 million

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Return Energy Inc is a Canadian based oil and gas exploration and production company. It is engaged in the exploration, development, and production of petroleum and natural gas properties internationally in Alberta. The company’s objective is to maintain a strong capital structure and financial flexibility so it can continue to meet its financial obligations and to finance the planned execution of its exploration and development programs. It primarily focuses on the Peace River Arch region of the Western Canadian Sedimentary Basin.

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