Scotiabank Upgrades MEG Energy (OTCMKTS:MEGEF) to “Outperform”

MEG Energy (OTCMKTS:MEGEF) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other equities analysts also recently weighed in on MEGEF. Desjardins raised shares of MEG Energy from a “hold” rating to a “buy” rating in a research note on Friday, July 23rd. National Bank Financial reduced their price objective on MEG Energy from C$14.50 to C$14.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 29th. Raymond James boosted their target price on MEG Energy from C$12.00 to C$13.50 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Finally, CIBC lifted their price target on MEG Energy from C$10.00 to C$14.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, MEG Energy has a consensus rating of “Buy” and a consensus target price of $9.83.

Shares of MEG Energy stock traded up $0.01 during trading on Thursday, hitting $8.26. The company’s stock had a trading volume of 28,254 shares, compared to its average volume of 72,577. MEG Energy has a 52 week low of $1.61 and a 52 week high of $8.86. The company has a fifty day simple moving average of $6.79 and a two-hundred day simple moving average of $6.46.

About MEG Energy

MEG Energy Corp. engages in the production of in situ thermal oil. Its projects include Cristina Lake and Surmont. The company was founded by William J. McCaffrey, Steve Turner and David J. Wizinsky on March 9, 1999 and is headquartered in Calgary, Canada.

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Analyst Recommendations for MEG Energy (OTCMKTS:MEGEF)

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