Desjardins Downgrades Veren (TSE:VRN) to Tender

Veren (TSE:VRN) was downgraded by Desjardins from a “buy” rating to a “tender” rating in a report released on Tuesday,BayStreet.CA reports. They currently have a C$12.60 price target on the stock, up from their previous price target of C$11.00. Desjardins’ price objective suggests a potential upside of 50.36% from the stock’s current price.

A number of other analysts have also commented on the stock. ATB Capital lowered their target price on shares of Veren from C$11.00 to C$9.50 in a report on Tuesday. CIBC cut their price target on shares of Veren from C$13.00 to C$12.50 in a research note on Friday, January 17th. Royal Bank of Canada reduced their price objective on Veren from C$10.00 to C$9.75 and set an “outperform” rating for the company in a research report on Tuesday. Finally, National Bankshares raised their target price on shares of Veren from C$12.50 to C$13.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$11.74.

Veren Trading Up 2.3 %

Shares of TSE VRN traded up C$0.19 during trading on Tuesday, reaching C$8.38. The company had a trading volume of 9,491,778 shares, compared to its average volume of 4,745,107. Veren has a 52 week low of C$6.34 and a 52 week high of C$12.67. The business’s 50 day moving average is C$7.49. The stock has a market cap of C$5.13 billion and a PE ratio of 4.77.

Veren Company Profile

Veren Inc explores, develops, and produces oil and gas properties in Canada and the United States. The company focuses on crude oil, tight oil, natural gas liquids, shale gas, and natural gas reserves. Its properties are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota.