Veren downgraded to Tender from Buy at Desjardins

Desjardins downgraded Veren (VRN) to Tender from Buy with a price target of C$12.60, up from C$11, following its proposed merger with Whitecap Resources (SPGYF). The deal represents fair value for Veren shareholders and the firm believes the likelihood of a competing bid is “relatively low,” the analyst says.