MEG Energy (MEG) PT Set at C$8.00 by Eight Capital
MEG Energy (TSE:MEG) has been assigned a C$8.00 price target by equities researchers at Eight Capital in a note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Eight Capital’s price objective points to a potential upside of 44.93% from the stock’s current price.
A number of other equities research analysts also recently weighed in on MEG. Barclays decreased their price target on shares of MEG Energy from C$6.00 to C$5.00 in a research note on Thursday, December 21st. National Bank Financial lifted their price target on shares of MEG Energy from C$5.25 to C$6.25 and gave the stock a “sector perform” rating in a research note on Tuesday. CIBC lifted their price objective on MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. GMP Securities lifted their price objective on MEG Energy from C$5.50 to C$7.00 and gave the company a “buy” rating in a report on Monday, December 4th. Finally, Scotiabank cut MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price objective for the company. in a report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of C$7.15.
MEG Energy (TSE MEG) traded up C$0.50 on Thursday, reaching C$5.52. 4,041,525 shares of the company’s stock were exchanged, compared to its average volume of 1,255,787. MEG Energy has a 1 year low of C$3.28 and a 1 year high of C$8.68. The firm has a market capitalization of $1,480.00, a P/E ratio of -7.89 and a beta of 2.53.
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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