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

Veren (TSE:VRN) had its price objective reduced by equities researchers at National Bankshares from C$13.50 to C$13.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 89.23% from the stock’s current price.

A number of other analysts also recently weighed in on VRN. Canaccord Genuity Group cut their price target on shares of Veren from C$15.00 to C$14.00 in a report on Tuesday, October 22nd. BMO Capital Markets reduced their target price on Veren from C$14.00 to C$11.00 and set an “outperform” rating on the stock in a report on Friday. Raymond James dropped their price target on Veren from C$13.00 to C$12.00 and set a “strong-buy” rating for the company in a research note on Friday. CIBC dropped their price target on shares of Veren from C$15.00 to C$13.00 in a research note on Friday. Finally, Scotiabank dropped their price target on shares of Veren from C$12.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Veren presently has an average rating of “Buy” and an average price target of C$11.89.

Veren Price Performance

Shares of VRN traded down C$0.30 during trading hours on Friday, hitting C$6.87. 5,408,289 shares of the company were exchanged, compared to its average volume of 3,138,214. Veren has a fifty-two week low of C$6.87 and a fifty-two week 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.