Spartan Delta (TSE:SDE) Upgraded by ATB Cormark Capital Markets to “Outperform” Rating

ATB Cormark Capital Markets upgraded shares of Spartan Delta (TSE:SDE) from a sector perform rating to an outperform rating in a research note published on Wednesday,BayStreet.CA reports. They currently have C$17.00 target price on the stock, up from their previous target price of C$13.25.

Several other research firms have also commented on SDE. Roth Mkm set a C$13.50 price objective on shares of Spartan Delta and gave the stock a “buy” rating in a research note on Wednesday, March 4th. TD Securities boosted their price objective on shares of Spartan Delta from C$9.50 to C$12.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Desjardins boosted their price objective on shares of Spartan Delta from C$9.50 to C$11.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. National Bank Financial boosted their target price on shares of Spartan Delta from C$7.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Finally, Ventum Financial boosted their target price on shares of Spartan Delta from C$10.50 to C$12.25 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$13.52.

Spartan Delta Trading Down 3.5%

TSE SDE opened at C$13.08 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 29.03. The firm has a market cap of C$2.65 billion, a PE ratio of 37.37 and a beta of 0.05. The company has a 50 day moving average price of C$11.91 and a 200 day moving average price of C$9.19. Spartan Delta has a 52 week low of C$2.61 and a 52 week high of C$14.00.

Spartan Delta (TSE:SDE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C($0.07) EPS for the quarter. The firm had revenue of C$136.90 million for the quarter. Spartan Delta had a return on equity of 11.57% and a net margin of 17.79%. As a group, sell-side analysts forecast that Spartan Delta will post 0.305004 EPS for the current fiscal year.

Key Headlines Impacting Spartan Delta

Here are the key news stories impacting Spartan Delta this week:

• Positive Sentiment: BMO Capital Markets raised its price target to C$16.00 and moved to an “outperform” rating, implying ~21.6% upside from the then-current price. BMO Upgrade
• Positive Sentiment: TD raised its target to C$16.00 and reiterated a “buy” rating, also implying ~21.6% upside. TD Upgrade
• Positive Sentiment: ATB Cormark upgraded SDE from “sector perform” to “outperform” and lifted its target to C$17.00 (?28.6% upside). ATB Cormark Upgrade
• Positive Sentiment: Ventum Capital raised its target to C$15.00 and kept a “buy” rating (?14% upside implied). Ventum Capital Raise
• Positive Sentiment: National Bank Financial increased its target to C$16.00 and moved to “outperform” — another bullish signal; coverage was also noted on TickerReport. National Bank Upgrade (BayStreet) National Bank Coverage (TickerReport)
• Positive Sentiment: Spartan Delta issued its Q1 2026 results and announced increased 2026 guidance and an increase to its credit facility — developments that typically support higher valuations. Q1 Release (Yahoo)
• Neutral Sentiment: The company reported C($0.07) EPS for the quarter on C$136.9M revenue; profitability metrics cited were mixed (positive net margin cited in coverage), so the near-term reaction may be muted as investors digest the loss-per-share vs. upgraded outlook. Quarterly Results (Press Release)

About Spartan Delta

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company’s culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company’s organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.