Brokerages Set MEG Energy Corp (MEG) Target Price at $8.56
MEG Energy Corp (TSE:MEG) has been assigned an average rating of “Hold” from the twelve research firms that are covering the firm. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is C$8.56.
A number of research analysts have issued reports on MEG shares. FirstEnergy Capital upgraded shares of MEG Energy Corp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 3rd. Royal Bank Of Canada restated an “outperform” rating and set a C$11.00 price target on shares of MEG Energy Corp in a research note on Thursday, September 29th. Raymond James Financial Inc. upped their price target on shares of MEG Energy Corp from C$9.00 to C$10.00 in a research note on Wednesday, October 12th. CIBC cut their price target on shares of MEG Energy Corp from C$9.50 to C$8.00 in a research note on Wednesday, October 19th. Finally, TD Securities restated a “speculative buy” rating and set a C$9.00 price target on shares of MEG Energy Corp in a research note on Friday, October 28th.
Shares of MEG Energy Corp (TSE:MEG) opened at 6.79 on Monday. The firm has a 50-day moving average of $5.81 and a 200-day moving average of $5.99. MEG Energy Corp has a one year low of $3.46 and a one year high of $11.32. The company’s market capitalization is $1.54 billion.
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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