MEG Energy Corp (MEG) Given Consensus Recommendation of “Buy” by Analysts

Shares of MEG Energy Corp (TSE:MEG) have earned an average rating of “Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$7.35.

Several analysts have recently weighed in on MEG shares. CIBC upped their price objective on MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. Barclays boosted their target price on MEG Energy from C$5.00 to C$7.00 in a research report on Monday. GMP Securities boosted their target price on 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. Eight Capital set a C$8.00 target price on MEG Energy and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, National Bank Financial boosted their target price 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, January 9th.

Shares of MEG Energy (MEG) traded down C$0.23 during trading on Tuesday, hitting C$5.50. The stock had a trading volume of 1,035,674 shares, compared to its average volume of 1,616,959. The firm has a market capitalization of $1,690.00, a price-to-earnings ratio of -7.83 and a beta of 2.53. MEG Energy has a twelve month low of C$3.28 and a twelve month high of C$7.44.

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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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