Raymond James Financial Inc. Raises MEG Energy Corp (MEG) Price Target to C$10.00
MEG Energy Corp (TSE:MEG) had its price target boosted by equities research analysts at Raymond James Financial Inc. from C$9.00 to C$10.00 in a note issued to investors on Wednesday. Raymond James Financial Inc.’s price target points to a potential upside of 73.61% from the company’s current price.
MEG has been the topic of a number of other reports. Scotiabank reaffirmed an “outperform” rating and set a C$12.00 price objective on shares of MEG Energy Corp in a report on Friday, July 29th. FirstEnergy Capital downgraded MEG Energy Corp from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a C$11.00 price objective on shares of MEG Energy Corp in a report on Thursday, September 29th. TD Securities lifted their price objective on MEG Energy Corp from C$9.50 to C$10.00 and gave the company a “speculative buy” rating in a report on Friday, July 29th. Finally, Barclays PLC boosted their target price on MEG Energy Corp from C$6.00 to C$7.00 in a report on Thursday, July 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. MEG Energy Corp presently has an average rating of “Hold” and a consensus price target of C$9.45.
MEG Energy Corp (TSE:MEG) traded down 1.22% on Wednesday, reaching $5.69. The company’s stock had a trading volume of 287,827 shares. The firm’s market capitalization is $1.29 billion. The stock’s 50 day moving average is $5.62 and its 200-day moving average is $6.15. MEG Energy Corp has a 52 week low of $3.46 and a 52 week high of $13.15.
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MEG Energy Corp Company Profile
Meg Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
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