MEG Energy (MEG) PT Raised to C$9.00
MEG Energy (TSE:MEG) had its target price boosted by research analysts at Royal Bank of Canada from C$8.00 to C$9.00 in a research report issued on Friday. Royal Bank of Canada’s target price points to a potential upside of 65.44% from the stock’s previous close.
A number of other research firms have also recently weighed in on MEG. CIBC lifted their price objective on MEG Energy from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. National Bank Financial lifted their price objective on MEG Energy from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a research report on Friday, October 27th. GMP Securities boosted their price target on MEG Energy from C$5.50 to C$7.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Eight Capital set a C$8.00 price target on MEG Energy and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Barclays lowered their price target on MEG Energy from C$6.00 to C$5.00 in a report on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of C$6.89.
MEG Energy (TSE:MEG) traded down C$0.21 during mid-day trading on Friday, hitting C$5.44. The stock had a trading volume of 2,046,626 shares, compared to its average volume of 1,740,466. MEG Energy has a 12-month low of C$3.28 and a 12-month high of C$7.44. The stock has a market cap of $1,520.00, a PE ratio of -7.70 and a beta of 2.48.
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.
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