MEG Energy Corp (MEG) Earns “Outperform” Rating from Royal Bank Of Canada
Royal Bank Of Canada reissued their outperform rating on shares of MEG Energy Corp (TSE:MEG) in a report issued on Thursday, StockTargetPrices.com reports. The firm currently has a C$11.00 price target on the stock.
Several other research firms have also commented on MEG. Desjardins set a C$8.00 price target on shares of MEG Energy Corp in a research report on Tuesday, June 28th. TD Securities reaffirmed a speculative buy rating and set a C$10.00 price objective on shares of MEG Energy Corp in a report on Friday, July 15th. Barclays PLC increased their price objective on shares of MEG Energy Corp from C$6.00 to C$7.00 in a report on Thursday, July 14th. Raymond James Financial Inc. set a C$10.00 price objective on shares of MEG Energy Corp in a report on Monday, June 6th. Finally, FirstEnergy Capital raised shares of MEG Energy Corp from a market perform rating to an outperform rating in a report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of C$9.45.
MEG Energy Corp (TSE:MEG) opened at 6.01 on Thursday. MEG Energy Corp has a one year low of $3.46 and a one year high of $13.15. The company’s 50-day moving average is $5.66 and its 200 day moving average is $6.19. The company’s market capitalization is $1.36 billion.
MEG Energy Corp Company Profile
MEG Energy Corp. (MEG) is an oil sands company. The Company 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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