Veresen Inc (VSN) Price Target Raised to C$18.50 at TD Securities
Veresen Inc (TSE:VSN) had its price objective hoisted by investment analysts at TD Securities from C$11.00 to C$18.50 in a research note issued to investors on Wednesday. The brokerage currently has a “tender” rating on the stock. TD Securities’ price target suggests a potential upside of 1.09% from the company’s previous close.
A number of other analysts have also weighed in on VSN. Scotiabank reaffirmed an “outperform” rating and issued a C$16.00 price target on shares of Veresen in a research note on Tuesday, March 14th. National Bank Financial lowered shares of Veresen from an “outperform” rating to a “tender” rating and upped their price target for the stock from C$18.00 to C$20.50 in a research note on Tuesday, May 2nd. Raymond James Financial, Inc. upped their price target on shares of Veresen from C$16.00 to C$20.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 2nd. BMO Capital Markets upped their price target on shares of Veresen from C$14.00 to C$18.65 and gave the stock a “market perform” rating in a research note on Wednesday, May 3rd. Finally, Royal Bank Of Canada lowered shares of Veresen from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$16.00 to C$18.65 in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Veresen currently has a consensus rating of “Hold” and an average price target of C$16.75.
Shares of Veresen (TSE:VSN) traded up 0.83% on Wednesday, reaching $18.30. 905,008 shares of the company’s stock were exchanged. The company has a market capitalization of $5.74 billion and a P/E ratio of 285.94. Veresen has a 1-year low of $10.51 and a 1-year high of $18.76. The stock’s 50-day moving average price is $18.45 and its 200-day moving average price is $15.27.
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Veresen Inc is an energy infrastructure company that owns and operates energy infrastructure assets across North America. The Company is engaged in three principal businesses: a pipeline transportation business consists of interests in the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System (AEGS); a midstream business, which includes a partnership interest in Veresen Midstream Limited Partnership, which owns assets in western Canada, and an ownership interest in Aux Sable, which owns a natural gas liquids (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure, and a power business consists of a portfolio of assets in Canada.
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