BMO Capital Markets on Thursday maintained its market-perform rating on the shares of Vermilion Energy (VET.TO, VET) while raising its price target to C$13.00 from an undisclosed prior level following the company's investor day presentations.
"Vermilion has experienced significant share price volatility amid uncertainty around European gas pricing, leverage, A&D activity, and exploration risk. That backdrop may now be shifting. The company's first Investor Day since 2018 outlined a five-year outlook anchored by structural tailwinds and disciplined execution. Management emphasized improved asset economics, strong well performance in core areas, and a focus to achieving its debt target - after which shareholder returns are set to increase meaningfully. Overall, the update should be well-received by the investor community. We increase our target price to $13," analyst Jeremy McCrea wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 12.28, Change: -0.21, Percent Change: -1.68
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