A Wall Street analyst has provided a review for the Utilities company today, but retained the same rating on the stock. Raymond James’ analyst Chris Cox reiterates their Hold rating on the shares of MEG Energy (MEG), with a C$9 price target.
According to TipRanks.com, Cox is a 1-star analyst with an average return of -1.2% and a 50.9% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Pengrowth Energy Corp, and Crescent Point Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MEG Energy with a C$7.65 average price target, which is a 39.7% upside from current levels. In a report issued on January 18, GMP FirstEnergy also upgraded the stock to Hold with a C$6 price target.
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The company has a one-year high of C$11.70 and a one-year low of C$4.28. Currently, MEG Energy has an average volume of 2.54M.
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 Thursday at C$5.48, close to its 52-week low of C$4.28.
