MEG Energy (OTCMKTS:MEGEF) Price Target Increased to C$22.00 by Analysts at Royal Bank of Canada

MEG Energy (OTCMKTS:MEGEFGet Rating) had its target price upped by Royal Bank of Canada from C$21.00 to C$22.00 in a research report sent to investors on Wednesday morning, The Fly reports.

Other equities research analysts have also issued research reports about the stock. National Bank Financial increased their price objective on shares of MEG Energy from C$24.00 to C$32.00 in a research note on Thursday, April 14th. BMO Capital Markets boosted their price objective on MEG Energy from C$22.00 to C$25.00 in a research report on Tuesday. TD Securities raised their target price on MEG Energy from C$21.00 to C$23.00 in a research report on Tuesday. CIBC boosted their price target on shares of MEG Energy from C$20.00 to C$23.00 in a report on Thursday, April 14th. Finally, Scotiabank raised their price objective on shares of MEG Energy from C$22.00 to C$23.00 in a report on Monday, April 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to, MEG Energy presently has an average rating of Buy and an average target price of $20.83.

MEGEF opened at $17.42 on Wednesday. MEG Energy has a fifty-two week low of $5.23 and a fifty-two week high of $17.61. The company’s 50-day moving average is $14.35 and its 200 day moving average is $11.49.

About MEG Energy (Get Rating)

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca oil region of Alberta, Canada. The company owns a 100% interest in approximately 410 square miles of mineral leases. It also develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.

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