Brokerages Set MEG Energy Corp (MEG) Target Price at $8.56
Shares of MEG Energy Corp (TSE:MEG) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is C$8.56.
MEG has been the subject of a number of research reports. Raymond James Financial Inc. increased 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. FirstEnergy Capital raised 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 reaffirmed an “outperform” rating and set a C$11.00 target price on shares of MEG Energy Corp in a research note on Thursday, September 29th. CIBC decreased their target price on shares of MEG Energy Corp from C$9.50 to C$8.00 in a research note on Wednesday, October 19th. Finally, Barclays PLC decreased their target price on shares of MEG Energy Corp from C$7.00 to C$6.00 and set an “equal weight” rating for the company in a research note on Monday, October 31st.
Shares of MEG Energy Corp (TSE:MEG) opened at 6.79 on Monday. The company’s market cap is $1.54 billion. MEG Energy Corp has a 12-month low of $3.46 and a 12-month high of $11.32. The company has a 50 day moving average of $5.81 and a 200-day moving average of $5.99.
About MEG Energy Corp
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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