BMO Capital Markets Issues Pessimistic Forecast for Veren (TSE:VRN) Stock Price

Veren (TSE:VRN) had its price objective cut by BMO Capital Markets from C$14.00 to C$11.00 in a report released on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 58.50% from the stock’s previous close.

VRN has been the subject of a number of other reports. Raymond James upgraded Veren to a “strong-buy” rating in a research report on Thursday, October 17th. Canaccord Genuity Group decreased their price target on shares of Veren from C$15.00 to C$14.00 in a report on Tuesday, October 22nd. 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, the company presently has a consensus rating of “Buy” and an average target price of C$11.89.

Veren Trading Down 3.2 %

Shares of Veren stock opened at C$6.94 on Friday. Veren has a 12 month low of C$6.84 and a 12 month 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.