CIBC Lowers Veren (TSE:VRN) Price Target to C$12.50

Veren (TSE:VRN) had its price objective cut by CIBC from C$13.00 to C$12.50 in a research note issued on Friday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 58.03% from the company’s current price.

A number of other research analysts have also weighed in on VRN. National Bankshares cut their price objective on Veren from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada lowered their price target on shares of Veren from C$12.00 to C$10.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Canaccord Genuity Group lowered their price target on shares of Veren from C$15.00 to C$14.00 in a report on Tuesday, October 22nd. Raymond James lowered their price target on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating for the company in a report on Friday, November 1st. Finally, Scotiabank lowered their price target on shares of Veren from C$12.00 to C$11.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Veren has an average rating of “Buy” and a consensus price target of C$11.83.

Veren Stock Performance

Shares of VRN opened at C$7.91 on Friday. Veren has a one year low of C$6.34 and a one year high of C$12.67. The stock has a 50 day simple moving average of C$7.32.

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.