Veren (TSE:VRN) Price Target Cut to C$11.00 by Analysts at BMO Capital Markets

Veren (TSE:VRN) had its price objective dropped by research analysts at BMO Capital Markets from C$14.00 to C$11.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 60.12% from the company’s current price.

Several other brokerages have also recently weighed in on VRN. Raymond James upgraded Veren to a “strong-buy” rating in a report on Thursday, October 17th. Canaccord Genuity Group cut their target price on shares of Veren from C$15.00 to C$14.00 in a report on Tuesday, October 22nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Veren currently has an average rating of “Buy” and a consensus price target of C$11.89.

Veren Stock Performance

TSE VRN traded down C$0.30 on Friday, hitting C$6.87. 5,408,289 shares of the company’s stock traded hands, compared to its average volume of 3,138,214. Veren has a 1-year low of C$6.87 and a 1-year high of C$12.67.

About Veren

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.