Eight Capital Reiterates “C$8.00” Price Target for MEG Energy (MEG)

Eight Capital set a C$8.00 target price on MEG Energy (TSE:MEG) in a report released on Thursday morning. The firm currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. National Bank Financial increased their price objective on MEG Energy from C$5.25 to C$6.25 and gave the stock a sector perform rating in a research report on Tuesday. Barclays lowered their price objective on MEG Energy from C$6.00 to C$5.00 in a research report on Thursday, December 21st. GMP Securities increased their target price 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. Scotiabank lowered 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. Finally, CIBC increased their target price on MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of C$7.15.

MEG Energy (MEG) traded up C$0.28 during mid-day trading on Thursday, reaching C$5.80. The company’s stock had a trading volume of 2,261,603 shares, compared to its average volume of 1,677,071. The company has a market cap of $1,710.00, a PE ratio of -8.29 and a beta of 2.53. MEG Energy has a 1 year low of C$3.28 and a 1 year high of C$7.91.

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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.

Analyst Recommendations for MEG Energy (TSE:MEG)

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