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Veren price target raised to C$13.65 from C$12.50 at CIBC

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Veren price target raised to C$13.65 from C$12.50 at CIBC

TipRanks

Fri, Apr 11, 2025, 7:37 AM 1 min read

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CIBC raised the firm’s price target on Veren (VRN) to C$13.65 from C$12.50 and keeps an Outperformer rating on the shares. The decision from OPEC+ to accelerate the phaseout of voluntarily curtailed production surprised the market, and concerns over the pending supply and demand balance sharply pushed oil prices lower, the analyst tells investors in a research note. The firm adjusted oil price expectations lower as part of a Q1 earnings preview for the energy sector.

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