MEG Energy (OTCMKTS:MEGEF) Upgraded at Scotiabank

Scotiabank upgraded shares of MEG Energy (OTCMKTS:MEGEF – Get Rating) from a sector perform rating to an outperform rating in a research note published on Tuesday morning, The Fly reports.

MEGEF has been the topic of a number of other research reports. BMO Capital Markets increased their price objective on shares of MEG Energy from C$25.00 to C$26.00 in a research report on Tuesday, February 28th. TD Securities raised their price objective on MEG Energy from C$20.00 to C$23.00 in a research note on Tuesday, February 28th. National Bank Financial boosted their price objective on MEG Energy from C$26.00 to C$29.00 in a report on Tuesday, April 18th. Finally, Royal Bank of Canada cut MEG Energy from an outperform rating to a sector perform rating in a report on Wednesday, April 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, MEG Energy has an average rating of Hold and an average price target of $24.14.

MEG Energy Trading Down 2.7 %

MEG Energy stock opened at $15.40 on Tuesday. The firm’s fifty day moving average is $15.87 and its 200 day moving average is $15.17. MEG Energy has a 12-month low of $10.10 and a 12-month high of $19.90.

About MEG Energy

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MEG Energy Corp. engages in the production of in situ thermal oil. Its projects include Cristina Lake and Surmont. The company was founded by William J. McCaffrey, Steve Turner and David J. Wizinsky on March 9, 1999 and is headquartered in Calgary, Canada.