Jeremy Mccrea, an analyst from BMO Capital, maintained the Buy rating on Veren (VRN – Research Report). The associated price target remains the same with C$11.00.
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Jeremy Mccrea has given his Buy rating due to a combination of factors that highlight Veren’s strong performance and potential for growth. The company has demonstrated impressive results with its new single-point entry (SPE) completion design in the Karr area, showing well rates significantly above the type curve. This advancement suggests a promising outlook for future production and financial performance.
Additionally, Veren’s recent activities in the Duvernay region have exceeded expectations, with multi-well pads delivering rates above the area type curve. Despite maintaining its guidance for 2025, the company’s ability to achieve higher cash flow and production rates than anticipated indicates a positive trajectory. These factors, coupled with a noticeable shift in investor sentiment and a recent increase in stock value, underpin Mccrea’s optimistic Buy rating for Veren.
According to TipRanks, Mccrea is a 5-star analyst with an average return of 15.8% and a 50.33% success rate. Mccrea covers the Energy sector, focusing on stocks such as Baytex Energy, Obsidian Energy, and Tamarack Valley Energy.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a C$10.00 price target.