Valener (VNR) Price Target Cut to C$23.00

Valener (TSE:VNR) had its target price reduced by stock analysts at Royal Bank of Canada from C$24.00 to C$23.00 in a report issued on Monday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.75% from the stock’s previous close.

A number of other brokerages have also recently weighed in on VNR. National Bank Financial increased their price target on shares of Valener from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research note on Monday, November 27th. BMO Capital Markets restated a “market perform” rating and issued a C$23.50 target price on shares of Valener in a research note on Monday, November 27th.

Shares of Valener (VNR) traded down C$0.29 during trading hours on Monday, reaching C$21.15. 214,891 shares of the company were exchanged, compared to its average volume of 50,117. The firm has a market cap of $835.02, a PE ratio of 12.30 and a beta of 0.02. Valener has a 12-month low of C$20.60 and a 12-month high of C$23.28.

Valener (TSE:VNR) last issued its quarterly earnings results on Friday, November 24th. The company reported C($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.05) by C($0.02). The business had revenue of C($4.39) million for the quarter. Valener had a negative return on equity of 1.66% and a negative net margin of 1,072.14%.

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Valener Company Profile

Valener Inc is a Canada-based energy company. The Company holds interests in Gaz Metro Limited Partnership (Gaz Metro), whose core operations are natural gas distribution in Quebec and Vermont, as well as electricity distribution in Vermont. The Company also owns indirect interests in wind farms through its subsidiaries, Valener Eole Inc and Valener Eole 4 Inc, which have approximately 154 turbines and an installed capacity of 340 megawatts.

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