MEG Energy Corp’s (MEG) Outperform Rating Reiterated at Royal Bank Of Canada

MEG Energy Corp (TSE:MEG)‘s stock had its “outperform” rating reaffirmed by Royal Bank Of Canada in a report released on Thursday, reports. They presently have a C$11.00 price target on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 98.20% from the stock’s previous close.

Several other brokerages have also recently weighed in on MEG. FirstEnergy Capital raised MEG Energy Corp from an “underperform” rating to a “market perform” rating in a report on Thursday, June 23rd. Morgan Stanley upped their price target on MEG Energy Corp from C$8.00 to C$9.00 in a research note on Monday, June 13th. TD Securities reaffirmed a “speculative buy” rating and issued a C$10.00 price target on shares of MEG Energy Corp in a research note on Friday, July 15th. Barclays PLC upped their price target on MEG Energy Corp from C$6.00 to C$7.00 in a research note on Thursday, July 14th. Finally, Desjardins set a C$8.00 price target on MEG Energy Corp in a research note on Tuesday, June 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$9.45.

Analyst Recommendations for MEG Energy Corp (TSE:MEG)

MEG Energy Corp (TSE:MEG) traded up 1.80% during mid-day trading on Thursday, hitting $5.65. 1,796,719 shares of the company traded hands. The company’s 50-day moving average price is $5.63 and its 200 day moving average price is $6.19. The company’s market capitalization is $1.28 billion. MEG Energy Corp has a one year low of $3.46 and a one year high of $13.15.

About MEG Energy Corp

MEG Energy Corp. (MEG) is an oil sands company. The Company 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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