MEG Energy (TSE:MEG) had its target price lifted by equities research analysts at National Bank Financial from C$5.25 to C$6.25 in a research note issued on Tuesday. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 24.50% from the stock’s current price.
Several other equities analysts also recently issued reports on the company. Scotiabank downgraded MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price objective for the company. in a research report on Wednesday, November 15th. Barclays lifted their price objective on MEG Energy from C$5.00 to C$6.00 in a research report on Friday, October 27th. GMP Securities lifted their price objective on MEG Energy from C$5.50 to C$7.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Finally, CIBC lifted their price objective on MEG Energy from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. MEG Energy presently has an average rating of “Buy” and a consensus target price of C$7.06.
Shares of MEG Energy (TSE:MEG) opened at C$5.02 on Tuesday. The company has a market capitalization of $1,480.00, a price-to-earnings ratio of -7.17 and a beta of 2.53. MEG Energy has a one year low of C$3.28 and a one year high of C$8.68.
MEG Energy 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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