MEG Energy (TSE:MEG) had its price target hoisted by investment analysts at CIBC from C$6.50 to C$7.50 in a report released on Tuesday, BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 19.43% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada cut MEG Energy from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$12.00 to C$8.15 in a research report on Monday, January 7th. BMO Capital Markets dropped their target price on MEG Energy from C$10.00 to C$6.50 in a research report on Monday, January 21st. Morgan Stanley upgraded MEG Energy from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from C$10.00 to C$8.00 in a research report on Wednesday, January 30th. TD Securities upgraded MEG Energy from a “hold” rating to a “buy” rating and dropped their target price for the company from C$12.00 to C$7.00 in a research report on Wednesday, January 23rd. Finally, Raymond James restated a “market perform” rating and set a C$11.50 target price on shares of MEG Energy in a research report on Wednesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$8.11.
Shares of MEG opened at C$6.28 on Tuesday. The stock has a market cap of $1.95 billion and a price-to-earnings ratio of -15.58. The company has a debt-to-equity ratio of 96.72, a quick ratio of 1.13 and a current ratio of 1.62. MEG Energy has a fifty-two week low of C$4.75 and a fifty-two week high of C$11.70.
MEG Energy Company Profile
MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.
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