Desjardins Downgrades Veren (TSE:VRN) to Tender

Veren (TSE:VRN) was downgraded by equities research analysts at Desjardins from a “buy” rating to a “tender” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a C$12.60 target price on the stock, up from their previous target price of C$11.00. Desjardins’ price objective indicates a potential upside of 43.84% from the company’s current price.

VRN has been the subject of a number of other research reports. CIBC lowered their price target on Veren from C$13.00 to C$12.50 in a research report on Friday, January 17th. ATB Capital decreased their target price on Veren from C$11.00 to C$9.50 in a report on Tuesday. Royal Bank of Canada cut their price target on shares of Veren from C$10.00 to C$9.75 and set an “outperform” rating on the stock in a report on Tuesday. Finally, National Bankshares upped their price objective on shares of Veren from C$12.50 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Veren has an average rating of “Buy” and a consensus target price of C$11.74.

Veren Trading Up 3.7 %

Shares of TSE:VRN opened at C$8.76 on Tuesday. The company’s 50-day moving average price is C$7.53. The company has a market capitalization of C$5.37 billion and a P/E ratio of 4.99. Veren has a 12 month low of C$6.34 and a 12 month 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.