The Materials sector company, MEG Energy (TSX: MEG), has received a rating update from a Wall Street analyst yesterday. AltaCorp Captial’s analyst Nick Lupick reiterates their Buy rating on the shares, with a C$9 price target.
Lupick has an average return of 15.1% when recommending MEG Energy.
According to TipRanks.com, Lupick is ranked #1833 out of 4873 analysts.
MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$10.75.
The company has a one-year high of C$11.51 and a one-year low of C$4.28. Currently, MEG Energy has an average volume of 2.3M.
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 Wednesday at C$8.07.
