MEG Energy Corp. (MEG) Downgraded by Scotiabank to “Sector Perform”

MEG Energy Corp. (TSE:MEG) was downgraded by research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday. They presently have a C$6.00 price objective on the stock. Scotiabank’s price target suggests a potential upside of 3.27% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. CIBC decreased their price objective on shares of MEG Energy Corp. from C$8.00 to C$4.50 in a research note on Thursday, July 20th. Barclays PLC raised their price objective on shares of MEG Energy Corp. from C$5.00 to C$6.00 in a research note on Friday, October 27th. TD Securities raised their price objective on shares of MEG Energy Corp. from C$5.50 to C$6.00 and gave the stock a “hold” rating in a research note on Friday, July 28th. Finally, National Bank Financial raised their price objective on shares of MEG Energy Corp. from C$4.75 to C$5.25 and gave the stock a “sector perform” rating in a research note on Friday, October 27th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$6.85.

MEG Energy Corp. (TSE MEG) traded down C$0.45 during trading on Wednesday, reaching C$5.81. 823,720 shares of the company were exchanged, compared to its average volume of 1,494,449. MEG Energy Corp. has a 1 year low of C$3.28 and a 1 year high of C$9.83.

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MEG Energy Corp. Company Profile

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.

Analyst Recommendations for MEG Energy Corp. (TSE:MEG)

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