MEG Energy (TSE:MEG) received a C$8.00 target price from stock analysts at Eight Capital in a report released on Thursday. The brokerage presently has a “buy” rating on the stock. Eight Capital’s target price would suggest a potential upside of 59.36% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. CIBC lifted their price target on shares of MEG Energy from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. Barclays lifted their price target on shares of MEG Energy from C$5.00 to C$6.00 in a research report on Friday, October 27th. GMP Securities lifted their price target on shares of MEG Energy from C$5.50 to C$7.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. National Bank Financial lifted their price target on shares of MEG Energy from C$5.25 to C$6.25 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Scotiabank cut shares of MEG Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 price target for the company. in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of C$7.15.
Shares of MEG Energy (TSE:MEG) traded down C$0.02 during trading hours on Thursday, hitting C$5.02. 1,185,661 shares of the stock traded hands, compared to its average volume of 1,255,787. MEG Energy has a 12 month low of C$3.28 and a 12 month high of C$8.68. The firm has a market cap of $1,480.00, a PE ratio of -7.17 and a beta of 2.53.
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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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