Royal Bank of Canada Increases MEG Energy (MEG) Price Target to C$9.00
MEG Energy (TSE:MEG) had its price target raised by research analysts at Royal Bank of Canada from C$8.00 to C$9.00 in a research report issued on Friday. Royal Bank of Canada’s price objective points to a potential upside of 64.84% from the stock’s current price.
Several other analysts have also recently issued reports on MEG. Barclays dropped their target price on MEG Energy from C$6.00 to C$5.00 in a research report on Thursday, December 21st. CIBC increased their target price on MEG Energy from C$4.50 to C$5.25 in a research report on Tuesday, October 17th. GMP Securities increased their target price on MEG Energy from C$5.50 to C$7.00 and gave the company a “buy” rating in a research report on Monday, December 4th. National Bank Financial increased their target price on 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, Eight Capital set a C$8.00 target price on MEG Energy and gave the company a “buy” rating in a research report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. MEG Energy presently has an average rating of “Hold” and a consensus price target of C$6.89.
Shares of MEG Energy (TSE MEG) opened at C$5.46 on Friday. The stock has a market capitalization of $1,610.00, a price-to-earnings ratio of -7.80 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.
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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