MEG Energy Corp. (OTCMKTS:MEGEF) Given Consensus Recommendation of “Buy” by Brokerages

MEG Energy Corp. (OTCMKTS:MEGEF) has earned a consensus recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $11.36.

A number of analysts have commented on MEGEF shares. Scotiabank lifted their target price on MEG Energy from C$9.50 to C$10.00 and gave the stock a “sector perform” rating in a report on Thursday, July 15th. Desjardins raised MEG Energy from a “hold” rating to a “buy” rating in a report on Friday, July 23rd. CIBC lifted their price objective on MEG Energy from C$10.00 to C$14.00 and gave the stock a “neutral” rating in a report on Wednesday, July 14th. Raymond James lifted their price objective 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, National Bank Financial lifted their price objective on MEG Energy from C$13.50 to C$15.00 and gave the stock a “sector perform” rating in a report on Monday, July 19th.

MEG Energy stock opened at $6.67 on Tuesday. The stock has a fifty day simple moving average of $6.34 and a two-hundred day simple moving average of $6.22. MEG Energy has a 12 month low of $1.61 and a 12 month high of $7.91.

MEG Energy Company Profile

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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