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

Veren (TSE:VRN) had its price objective cut by equities researchers at Raymond James from C$13.00 to C$12.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target indicates a potential upside of 74.67% from the company’s current price.

A number of other analysts also recently commented on the stock. BMO Capital Markets cut their price objective on shares of Veren from C$14.00 to C$11.00 and set an “outperform” rating for the company in a report on Friday. CIBC reduced their price objective on Veren from C$15.00 to C$13.00 in a research report on Friday. Finally, Canaccord Genuity Group dropped their target price 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$11.89.

Veren Stock Down 4.2 %

Shares of Veren stock traded down C$0.30 during trading hours on Friday, reaching C$6.87. 5,408,289 shares of the company’s stock were exchanged, compared to its average volume of 3,138,214. Veren has a 1 year low of C$6.87 and a 1 year 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.