MEG Energy (TSE:MEG) had its price objective increased by analysts at GMP Securities from C$5.50 to C$7.00 in a research report issued on Monday. The brokerage presently has a “buy” rating on the stock. GMP Securities’ price target would indicate a potential upside of 23.46% from the company’s current price.
MEG has been the topic of several other research reports. Scotiabank downgraded shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 target price on the stock. in a report on Wednesday, November 15th. Barclays lifted their target price on shares of MEG Energy from C$5.00 to C$6.00 in a report on Friday, October 27th. CIBC lifted their target price on shares of MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. Finally, National Bank Financial lifted their target price on shares of MEG Energy from C$4.75 to C$5.25 and gave the company a “sector perform” rating in a report on Friday, October 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. MEG Energy presently has an average rating of “Buy” and a consensus target price of C$7.15.
Shares of MEG Energy (TSE:MEG) opened at C$5.67 on Monday. MEG Energy has a fifty-two week low of C$3.28 and a fifty-two week high of C$9.83.
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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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