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

Veren (TSE:VRN) had its price target cut by investment analysts at Scotiabank from C$12.00 to C$11.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 58.50% from the company’s previous close.

VRN has been the topic of several other research reports. CIBC decreased their price target on shares of Veren from C$15.00 to C$13.00 in a report on Friday. BMO Capital Markets decreased their target price on Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James lowered their price target on Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a report on Friday. Finally, Canaccord Genuity Group cut their price objective on Veren from C$15.00 to C$14.00 in a report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$11.89.

Veren Stock Down 3.2 %

Veren stock opened at C$6.94 on Friday. Veren has a 1-year low of C$6.84 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.