Companies in the Utilities sector have received a lot of coverage today as analysts weigh in on Crescent Point Energy (CPG) and MEG Energy (MEGEF).
Crescent Point Energy (CPG)
CIBC analyst Jamie Kubik reiterated a Buy rating on Crescent Point Energy today and set a price target of C$7.00. The company’s shares closed last Tuesday at $4.65, close to its 52-week high of $4.86.
According to TipRanks.com, Kubik is a 3-star analyst with an average return of 2.7% and a 43.7% success rate. Kubik covers the Utilities sector, focusing on stocks such as Advantage Oil & Gas, Paramount Resources, and PrairieSky Royalty.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Crescent Point Energy with a $5.77 average price target, a 22.8% upside from current levels. In a report released today, BMO Capital also maintained a Buy rating on the stock with a C$7.00 price target.
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MEG Energy (MEGEF)
J.P. Morgan analyst Phil Gresh maintained a Hold rating on MEG Energy today and set a price target of C$11.00. The company’s shares closed last Tuesday at $7.07, close to its 52-week high of $7.42.
According to TipRanks.com, Gresh is a 4-star analyst with an average return of 8.0% and a 69.9% success rate. Gresh covers the Utilities sector, focusing on stocks such as Par Pacific Holdings, Marathon Petroleum, and Delek US Holdings.
MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of $8.08, representing a 15.4% upside. In a report issued on June 3, Goldman Sachs also maintained a Hold rating on the stock with a C$9.50 price target.
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