CIBC Issues Pessimistic Forecast for Veren (TSE:VRN) Stock Price

Veren (TSE:VRN) had its price target decreased by equities research analysts at CIBC from C$13.00 to C$12.50 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 59.24% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. ATB Capital reduced their price objective on shares of Veren from C$11.50 to C$11.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Canaccord Genuity Group dropped their target price on shares of Veren from C$15.00 to C$14.00 in a research report on Tuesday, October 22nd. Raymond James dropped their target price on shares of Veren from C$13.00 to C$12.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada dropped their target price on shares of Veren from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, BMO Capital Markets dropped their target price on shares of Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. 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 data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$11.83.

Veren Stock Performance

Shares of TSE:VRN traded down C$0.04 during trading on Friday, reaching C$7.85. The stock had a trading volume of 1,966,840 shares, compared to its average volume of 3,661,614. The business’s fifty day moving average is C$7.31. Veren has a 52 week low of C$6.34 and a 52 week 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.