MEG Energy (MEG) Price Target Raised to C$8.00

MEG Energy (TSE:MEG) had its price objective lifted by stock analysts at GMP Securities from C$7.00 to C$8.00 in a note issued to investors on Monday. GMP Securities’ price target points to a potential upside of 44.93% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of MEG Energy from C$7.00 to C$8.00 in a report on Friday. National Bank Financial boosted their price target on shares of MEG Energy from C$4.75 to C$5.25 and gave the stock a “sector perform” rating in a research report on Friday, October 27th. CIBC boosted their price target on shares of MEG Energy from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. Eight Capital set a C$8.00 price target on shares of MEG Energy and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Raymond James Financial upgraded shares of MEG Energy from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from C$5.00 to C$6.50 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$7.11.

MEG Energy (MEG) traded up C$0.06 during mid-day trading on Monday, reaching C$5.52. 1,332,178 shares of the company traded hands, compared to its average volume of 1,768,139. The firm has a market capitalization of $1,610.00, a P/E ratio of -7.89 and a beta of 2.48. MEG Energy has a 1-year low of C$3.28 and a 1-year high of C$7.44.

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About MEG Energy

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 (TSE:MEG)

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