20:36:06 EDT Sun 01 Oct 2023
Enter Symbol
or Name

Spartan Delta Corp
Symbol SDE
Shares Issued 58,105,517
Close 2020-10-21 C$ 2.87
Recent Sedar Documents

Globe says Bean rates Spartan Delta "sector outperform"

2020-10-21 07:47 ET - In the News

The Globe and Mail reports in its Wednesday edition that Scotia Capital analyst Cameron Bean began coverage of Spartan Delta with a "sector outperform" rating and $5 share target, falling 12 cents below the consensus. The Globe's David Leeder writes that Mr. Bean says in a note: "The company is advancing a consolidation-driven growth strategy focused on acquiring and optimizing undervalued assets. We believe Spartan Delta is well positioned to pursue its strategy and create value for investors. Our thesis and recommendation are based on Spartan Delta's (1) proven management team and timely strategy; (2) high-quality asset base and free cash flow (FCF) platform; (3) superior rate-of-change potential; (4) potential to take advantage of an acquisition and disposition environment that favours buyers; (5) AECO exposure, which is the purest in our coverage group; and (6) attractive valuation, with ample upside to our target price, which is based on a 50/50 weighting of 5.0 times our blended 2021 and 2022 debt-adjusted cash flow estimates and our scenario sum-of-the-assets net asset value estimate." The Globe reported on June 6 that Raymond James rated Spartan "outperform" in new coverage when it was worth $3.50.

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