MEG Energy (OTCMKTS:MEGEF) Rating Increased to Outperform at Scotiabank

Scotiabank upgraded shares of MEG Energy (OTCMKTS:MEGEF – Get Rating) from a sector perform rating to an outperform rating in a research report report published on Tuesday, The Fly reports.

A number of other brokerages have also commented on MEGEF. Royal Bank of Canada lowered shares of MEG Energy from an outperform rating to a sector perform rating in a report on Wednesday, April 12th. National Bank Financial raised their price target on MEG Energy from C$26.00 to C$29.00 in a research report on Tuesday, April 18th. TD Securities upped their price objective on MEG Energy from C$20.00 to C$23.00 in a report on Tuesday, February 28th. Finally, BMO Capital Markets raised their price objective on MEG Energy from C$25.00 to C$26.00 in a report on Tuesday, February 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MEG Energy has a consensus rating of Hold and an average target price of $24.14.

MEG Energy Stock Performance

MEGEF opened at $15.40 on Tuesday. MEG Energy has a one year low of $10.10 and a one year high of $19.90. The company has a fifty day moving average price of $15.87 and a 200-day moving average price of $15.17.

About MEG Energy

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MEG Energy Corp. engages in the production of in situ thermal oil. Its projects include Cristina Lake and Surmont. The company was founded by William J. McCaffrey, Steve Turner and David J. Wizinsky on March 9, 1999 and is headquartered in Calgary, Canada.