Brokerages cut PT on Vermilion Energy on downbeat 2023 production outlook

Vermilion Energy

09/01/2023 14:09

** Brokerages cut PT of Canadian oil and gas company
Vermilion Energy Inc  VET.TO  on less-than-estimated 2023
forecast
    ** BMO trims PT on stock to C$25 from C$32, saying forecast
for company's "production volumes are considerably lower than
expectations"
    ** Scotiabank lowers PT on VET to C$32 from C$40, citing
windfall profit tax in Europe to negatively impact the company's
free cash flow
    ** Eight of 14 brokerages rate stock "buy" or higher, 6
"hold"; median PT is C$37 - Refinitiv
    ** Stock gained 50.8% in 2022
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))