Valener (TSE:VNR) was upgraded by National Bank Financial from an “underperform” rating to a “sector perform” rating in a research note issued on Monday. The firm currently has a C$22.00 target price on the stock. National Bank Financial’s price objective indicates a potential upside of 8.06% from the company’s current price.
A number of other analysts also recently issued reports on VNR. Royal Bank of Canada cut their price target on shares of Valener from C$23.00 to C$22.00 and set a “sector perform” rating for the company in a report on Friday, May 11th. TD Securities cut their price target on shares of Valener from C$23.00 to C$22.00 and set a “hold” rating for the company in a report on Tuesday, February 13th. Finally, BMO Capital Markets cut their price target on shares of Valener from C$23.50 to C$23.00 in a report on Tuesday, February 6th.
Shares of Valener opened at C$20.36 on Monday, according to MarketBeat. Valener has a 1 year low of C$19.73 and a 1 year high of C$23.28.
In related news, Director Pierre Monahan bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of C$20.16 per share, for a total transaction of C$60,480.00. Also, Director Mary-Ann Bell bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of C$20.89 per share, with a total value of C$41,780.00.
Valener Company Profile
Valener Inc, through its subsidiaries, engages in the transportation, distribution, supply, and storage of natural gas in Canada and the United States. It operates a gas pipeline in Québec; and 2 gas pipelines that cross the Ontario border, as well as has distribution network in northwest Québec. The company is also involved in the generation, transportation, distribution, purchase, and sale of electricity primarily in Vermont, New Hampshire, and New York, as well as the provision of electric network construction services.
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