MEG Energy (TSE:MEG) Given New C$7.00 Price Target at Barclays

MEG Energy (TSE:MEG) had its target price boosted by equities research analysts at Barclays from C$5.00 to C$7.00 in a research report issued on Monday, January 29th. Barclays’ price target would suggest a potential upside of 27.04% from the company’s current price.

Other analysts have also recently issued reports about the stock. CIBC increased their target price on shares of MEG Energy from C$4.50 to C$5.25 in a report on Tuesday, October 17th. GMP Securities increased their price objective on shares of MEG Energy from C$5.50 to C$7.00 and gave the stock a “buy” rating in a report on Monday, December 4th. Eight Capital set a C$8.00 target price on shares of MEG Energy and gave the company a “buy” rating in a research note on Thursday, January 11th. National Bank Financial raised their price objective on shares of MEG Energy from C$5.25 to C$6.25 and gave the company a “sector perform” rating in a research report on Tuesday, January 9th. Finally, Scotiabank lowered shares of 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$7.11.

MEG Energy (TSE:MEG) opened at C$5.51 on Monday. The company has a market cap of $1,620.00, a price-to-earnings ratio of -7.87 and a beta of 2.48. MEG Energy has a 52 week low of C$3.28 and a 52 week high of C$7.44.

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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.

Analyst Recommendations for MEG Energy (TSE:MEG)

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