Home Energy company MEG Energy Corp. (OTCMKTS:MEGEF) receives average “Buy” rating from analysts

MEG Energy Corp. (OTCMKTS:MEGEF) receives average “Buy” rating from analysts

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Shares of MEG Energy Corp. (OTCMKTS:MEGEF – Get Rating) received a consensus “buy” recommendation from the nine research firms that cover the stock, reports Marketbeat Ratings. One analyst rated the stock with a hold recommendation and two gave the company a buy recommendation. The 12-month average price target among brokers who updated their coverage on the stock in the past year is $20.83.

Several analysts have commented on the company. National Bank Financial raised its target price on MEG Energy from CA$24.00 to CA$32.00 in a Thursday, April 14 research note. Scotiabank raised its target price on MEG Energy from C$22.00 to C$23.00 in a Monday, April 18 research note. BMO Capital Markets raised its price target on MEG Energy from C$22.00 to C$25.00 in a Tuesday, May 3 report. TD Securities raised its price target on MEG Energy from C$21.00 to C$23.00 in a Tuesday, May 3 report. Finally, CIBC raised its price target on MEG Energy from CA$20.00 to CA$23.00 in a Thursday, April 14 report.

MEGEF shares opened at $17.20 on Friday. The company’s fifty-day simple moving average is $14.97 and its two-hundred-day simple moving average is $12.31. MEG Energy has a 12-month low of $5.23 and a 12-month high of $17.71.

About MEG Energy (Get an evaluation)

MEG Energy Corp., an energy company, is focused on sustainable in-situ thermal oil production in the Southern Athabasca oil region of Alberta, Canada. The Company holds a 100% interest in approximately 410 square miles of mining leases. It also develops oil recovery projects that use steam-assisted gravity drainage mining methods to improve oil recovery, as well as reduce carbon emissions.

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Analyst recommendations for MEG Energy (OTCMKTS:MEGEF)



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