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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Veren Inc. and Whitecap Resources Announce Merger Plans Veren Inc. Announces Business Combination with Whitecap Resources Veren downgraded to Tender from Buy at Desjardins Veren price target lowered to C$9.75 from C$10 at RBC Capital Whitecap Resources upgraded to Outperform from Market Perform at Raymond James

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