Raymond James Financial Inc. Increases MEG Energy Corp (MEG) Price Target to C$10.00
MEG Energy Corp (TSE:MEG) had its price objective hoisted by research analysts at Raymond James Financial Inc. from C$9.00 to C$10.00 in a research report issued on Wednesday. Raymond James Financial Inc.’s price target indicates a potential upside of 72.12% from the company’s previous close.
Several other equities research analysts have also issued reports on MEG. TD Securities boosted their price target on shares of MEG Energy Corp from C$9.50 to C$10.00 and gave the company a “speculative buy” rating in a report on Friday, July 29th. Barclays PLC boosted their price target on shares of MEG Energy Corp from C$6.00 to C$7.00 in a report on Thursday, July 14th. Scotiabank reissued an “outperform” rating and issued a C$12.00 price target on shares of MEG Energy Corp in a report on Friday, July 29th. Desjardins set a C$8.00 price target on shares of MEG Energy Corp in a report on Tuesday, June 28th. Finally, FirstEnergy Capital lowered shares of MEG Energy Corp from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. MEG Energy Corp presently has a consensus rating of “Hold” and an average target price of C$9.45.
Shares of MEG Energy Corp (TSE:MEG) opened at 5.81 on Wednesday. The company has a 50 day moving average of $5.63 and a 200-day moving average of $6.15. The company’s market capitalization is $1.32 billion. MEG Energy Corp has a 12-month low of $3.46 and a 12-month high of $13.15.
MEG Energy Corp 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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