Raymond James Financial Inc. Raises MEG Energy Corp (MEG) Price Target to C$10.00

MEG Energy Corp (TSE:MEG) had its price objective lifted by Raymond James Financial Inc. from C$9.00 to C$10.00 in a research report report published on Wednesday morning.

MEG has been the topic of a number of other research reports. Royal Bank Of Canada reissued an outperform rating and issued a C$11.00 target price on shares of MEG Energy Corp in a research report on Thursday, September 29th. Desjardins set a C$8.00 price target on shares of MEG Energy Corp in a research note on Tuesday, June 28th. FirstEnergy Capital upgraded shares of MEG Energy Corp from a market perform rating to an outperform rating in a research note on Wednesday, August 3rd. Barclays PLC boosted their price target on shares of MEG Energy Corp from C$6.00 to C$7.00 in a research note on Thursday, July 14th. Finally, TD Securities restated 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of C$9.45.

Shares of MEG Energy Corp (TSE:MEG) opened at 5.83 on Wednesday. The company’s market cap is $1.32 billion. MEG Energy Corp has a 12 month low of $3.46 and a 12 month high of $12.38. The firm’s 50-day moving average price is $5.64 and its 200 day moving average price is $6.15.

About MEG Energy Corp

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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