In a new note to investors today, an analyst has provided a rating update for the Materials sector company, MEG Energy (TSX: MEG). Analyst Jason Bouvier from Scotiabank rated MEG Energy (TSX: MEG) a Hold, setting a C$11 price target.
According to TipRanks.com, Bouvier is ranked #3317 out of 4886 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MEG Energy with a C$9.90 average price target, a 23.3% upside from current levels. In a report issued on September 26, TD Securities also reiterated a Hold rating on the stock with a C$9 price target.
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MEG Energy’s market cap is currently C$2.38B and has a P/E ratio of 114.7. The company has a Price to Book ratio of 0.60.
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$8.03.
