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

Meren Energy (TSE:MER) received a C$2.50 price objective from investment analysts at Scotiabank in a research note issued on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 26.26% from the company’s previous close.

Meren Energy Stock Down 0.5%

MER traded down C$0.01 on Friday, reaching C$1.98. 671,097 shares of the stock were exchanged, compared to its average volume of 828,620. Meren Energy has a fifty-two week low of C$1.65 and a fifty-two week high of C$2.58. The stock has a market capitalization of C$1.34 billion, a price-to-earnings ratio of -9.00 and a beta of 0.25. The firm’s 50-day moving average is 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.