Scotiabank Lowers Veren (TSE:VRN) Price Target to C$11.00

Veren (TSE:VRN) had its price target dropped by research analysts at Scotiabank from C$12.00 to C$11.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 60.12% from the company’s previous close.

A number of other brokerages also recently commented on VRN. Canaccord Genuity Group lowered their target price on Veren from C$15.00 to C$14.00 in a research note on Tuesday, October 22nd. Raymond James reduced their price objective on Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a report on Friday. CIBC reduced their price objective on shares of Veren from C$15.00 to C$13.00 in a research note on Friday. Finally, BMO Capital Markets reduced their price target on shares of Veren from C$14.00 to C$11.00 and set an “outperform” rating for the company in a report on Friday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Veren has an average rating of “Buy” and an average price target of C$11.89.

Veren Stock Performance

VRN stock traded down C$0.30 during midday trading on Friday, reaching C$6.87. The company had a trading volume of 5,408,289 shares, compared to its average volume of 3,138,214. Veren has a fifty-two week low of C$6.87 and a fifty-two week high of C$12.67.

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.