10 Cheap Canadian Stocks to Buy According to Analysts

4. Veren Inc. (NYSE:VRN)

Forward P/E Ratio: 5.33

Earnings Growth This Year: 8.03%

Analyst Upside Potential: 39.90%

Veren Inc. (NYSE:VRN) is another Canadian company that primarily focuses on producing oil. The company is involved in finding, developing, and managing oil and natural gas properties. It does so through partnerships and by owning subsidiaries.

On February 28, Jeremy Mccrea, an analyst from BMO Capital, maintained the Buy rating on Veren with a price target of C$11. The analyst noted that the company has achieved impressive results with its SPE completion design in the Karr area of Alberta Montney. Moreover, the well rates have significantly exceeded expectations, indicating a promising future for production and financial performance. In addition, activities in the Kaybob Duvernay region have surpassed expectations as well and Multi-well pads have delivered production rates above the area’s typical performance, contributing to a positive outlook for cash flow and production. Veren Inc. (NYSE:VRN) has maintained its 2025 guidance, but the company has shown its ability to achieve higher-than-expected cash flow and production rates.

During the fiscal fourth quarter of 2024, Veren Inc. (NYSE:VRN) achieved an average daily production of 191,000 barrels of oil equivalent. The fourth quarter saw a production level of 189,000 BOE per day, with the Montney and Duvernay assets in Alberta accounting for nearly 80% of Q4 production. It is one of the cheap Canadian stocks to buy according to analysts.