MEG Energy (TSE:MEG) had its price objective upped by investment analysts at Eight Capital from C$8.00 to C$9.00 in a research note issued to investors on Monday. Eight Capital’s price target would suggest a potential upside of 63.04% from the stock’s previous close.
Several other brokerages also recently issued reports on MEG. Scotiabank downgraded shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price target for the company. in a report on Wednesday, November 15th. Barclays boosted their price target on shares of MEG Energy from C$5.00 to C$7.00 in a report on Monday, January 29th. GMP Securities boosted their price target on shares of MEG Energy from C$7.00 to C$8.00 in a report on Monday. Raymond James Financial raised shares of MEG Energy from an “underperform” rating to a “market perform” rating and boosted their price target for the company from C$5.00 to C$6.50 in a report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of MEG Energy from C$8.00 to C$9.00 in a report on Friday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of C$7.11.
Shares of MEG Energy (TSE MEG) traded up C$0.06 on Monday, hitting C$5.52. 1,332,178 shares of the stock traded hands, compared to its average volume of 1,768,139. MEG Energy has a 52 week low of C$3.28 and a 52 week high of C$7.44. 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 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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