GMP FirstEnergy Believes MEG Energy (MEG) Won’t Stop Here
Wall Street analyst has provided a review for the Materials company on June 27, but retained the same rating on the stock. GMP FirstEnergy’s analyst Michael Dunn reiterates their Buy rating on the shares of MEG Energy (TSX: MEG), with a C$12 price target.
Dunn has an average return of 26.9% when recommending MEG Energy.
According to TipRanks.com, Dunn is ranked #4445 out of 4825 analysts.
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MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$10, a -8.8% downside from current levels. In a report issued on June 14, AltaCorp Captial also reiterated a Buy rating on the stock with a C$10 price target.
The company has a one-year high of C$11.24 and a one-year low of C$3.28. Currently, MEG Energy has an average volume of 2.53M.
MEG Energy Corp. engages in the development and production of situ oil sands. It focuses in southern Athabasca oil sands region of Alberta. It also develops enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods, which consists of Christina Lake Project and the Surmont Project.
The company’s shares closed on Friday at C$10.96, close to its 52-week high of C$11.24.