MEG Energy Corp. (TSE:MEG) was downgraded by research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report released on Wednesday. They currently have a C$6.00 target price on the stock. Scotiabank’s price target suggests a potential upside of 3.27% from the company’s current price.

A number of other analysts have also issued reports on the stock. CIBC dropped their price objective on shares of MEG Energy Corp. from C$8.00 to C$4.50 in a research note on Thursday, July 20th. National Bank Financial lifted their price objective on shares of MEG Energy Corp. from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a research note on Friday, October 27th. Barclays PLC lifted their price objective on shares of MEG Energy Corp. from C$5.00 to C$6.00 in a research note on Friday, October 27th. Finally, TD Securities lifted their price objective on shares of MEG Energy Corp. from C$5.50 to C$6.00 and gave the company a “hold” rating in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of C$6.85.

Shares of MEG Energy Corp. (TSE:MEG) traded down C$0.45 during mid-day trading on Wednesday, reaching C$5.81. 823,720 shares of the company’s stock were exchanged, compared to its average volume of 1,494,449. MEG Energy Corp. has a 1 year low of C$3.28 and a 1 year high of C$9.83.

COPYRIGHT VIOLATION WARNING: “Scotiabank Lowers MEG Energy Corp. (MEG) to Sector Perform” was first published by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/15/scotiabank-lowers-meg-energy-corp-meg-to-sector-perform.html.

About MEG Energy Corp.

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.

Analyst Recommendations for MEG Energy Corp. (TSE:MEG)

Receive News & Ratings for MEG Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.