MEG Energy (TSE:MEG) received a C$8.00 target price from analysts at Eight Capital in a report issued on Thursday. The firm presently has a “buy” rating on the stock. Eight Capital’s price objective suggests a potential upside of 37.93% from the company’s previous close.
MEG has been the subject of a number of other research reports. Scotiabank downgraded 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. Barclays raised their price target on shares of MEG Energy from C$5.00 to C$6.00 in a research report on Friday, October 27th. National Bank Financial raised 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. GMP Securities raised 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. Finally, CIBC raised their price target on shares of MEG Energy from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of C$7.15.
Shares of MEG Energy (TSE MEG) opened at C$5.80 on Thursday. MEG Energy has a 1 year low of C$3.28 and a 1 year high of C$7.91. The firm has a market cap of $1,710.00, a P/E ratio of -8.29 and a beta of 2.53.
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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.
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