Recent Investment Analysts’ Ratings Changes for Spartan Delta (SDE)

A number of firms have modified their ratings and price targets on shares of Spartan Delta (TSE: SDE) recently:

• 3/4/2026 – Spartan Delta was given a new C$13.50 price target by Roth Mkm. They now have a “buy” rating on the stock.
• 2/24/2026 – Spartan Delta had its price target raised by Desjardins from C$9.50 to C$11.00. They now have a “hold” rating on the stock.
• 2/24/2026 – Spartan Delta had its price target raised by TD Securities from C$9.50 to C$12.00. They now have a “buy” rating on the stock.
• 2/24/2026 – Spartan Delta had its price target raised by Ventum Financial from C$10.50 to C$12.25. They now have a “buy” rating on the stock.
• 2/11/2026 – Spartan Delta had its price target raised by BMO Capital Markets from C$9.00 to C$11.00. They now have an “outperform” rating on the stock.
• 1/28/2026 – Spartan Delta had its price target raised by Ventum Financial from C$9.00 to C$10.50. They now have a “buy” rating on the stock.
• 1/21/2026 – Spartan Delta had its price target raised by Scotiabank from C$8.00 to C$11.00. They now have an “outperform” rating on the stock.
• 1/6/2026 – Spartan Delta had its price target raised by Desjardins from C$8.00 to C$8.50. They now have a “hold” rating on the stock.
• 1/6/2026 – Spartan Delta had its price target raised by National Bank Financial from C$7.50 to C$9.00. They now have an “outperform” rating on the stock.
• 1/6/2026 – Spartan Delta had its price target raised by Ventum Financial from C$7.00 to C$9.00. They now have a “buy” rating on the stock.
• 1/6/2026 – Spartan Delta had its price target raised by BMO Capital Markets from C$7.50 to C$9.00.
• 1/6/2026 – Spartan Delta had its price target raised by TD Securities from C$7.50 to C$9.50. They now have a “buy” rating on the stock.

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.