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

Meren Energy (TSE:MER) has been assigned a C$2.50 target price by analysts at Scotiabank in a report released on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 26.26% from the company’s previous close.

Meren Energy Stock Down 0.5%

Shares of TSE MER traded down C$0.01 during mid-day trading on Friday, reaching C$1.98. The company’s stock had a trading volume of 671,097 shares, compared to its average volume of 828,620. The firm has a market cap of C$1.34 billion, a PE ratio of -9.00 and a beta of 0.25. Meren Energy has a 1-year low of C$1.65 and a 1-year high of C$2.58. The business has a 50-day simple moving average of C$2.14.

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.