Meren Energy (TSE:MER) Given a C$2.50 Price Target by Scotiabank Analysts

Scotiabank set a C$2.50 target price on Meren Energy (TSE:MER) in a research note issued to investors on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Meren Energy Stock Performance

Shares of TSE:MER opened at C$1.99 on Friday. Meren Energy has a 12 month low of C$1.65 and a 12 month high of C$2.58. The company’s 50 day moving average price is C$2.14. The stock has a market capitalization of C$1.35 billion, a PE ratio of -9.05 and a beta of 0.25.

Meren Energy Company Profile

Meren is a full-cycle Independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. Its main assets are producing and development assets in deepwater Nigeria. The Company holds a leading position in the Orange Basin including its effective interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa.