MEG Energy Corp (TSE:MEG) had its target price lifted by equities researchers at Raymond James Financial Inc. from C$9.00 to C$10.00 in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. Raymond James Financial Inc.’s target price suggests a potential upside of 76.99% from the stock’s previous close.
Several other brokerages have also recently weighed in on MEG. FirstEnergy Capital upgraded shares of MEG Energy Corp from an “underperform” rating to a “market perform” rating in a research note on Thursday, June 23rd. TD Securities reiterated a “speculative buy” rating and issued a C$10.00 price objective on shares of MEG Energy Corp in a research note on Friday, July 15th. Barclays PLC raised their target price on shares of MEG Energy Corp from C$6.00 to C$7.00 in a research note on Thursday, July 14th. Desjardins set a C$8.00 target price on shares of MEG Energy Corp in a research note on Tuesday, June 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a C$11.00 target price on shares of MEG Energy Corp in a research note on Thursday, September 29th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$9.45.
Shares of MEG Energy Corp (TSE:MEG) traded up 1.77% during midday trading on Wednesday, hitting $5.75. 1,717,826 shares of the stock were exchanged. The firm’s 50-day moving average is $5.63 and its 200 day moving average is $6.16. The firm’s market cap is $1.30 billion. MEG Energy Corp has a 52-week low of $3.46 and a 52-week high of $13.15.
MEG Energy Corp 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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