GMP FirstEnergy Upgrades MEG Energy to Buy

By Jason Carr

MEG Energy (TSX: MEG), the Materials sector company, has received a rating update from a Wall Street analyst on December 4. On December 4, analyst Michael Dunn gave a Buy rating to MEG and set a C$7 price target.

According to TipRanks.com, Dunn is ranked #4612 out of 4729 analysts.

MEG Energy has an analyst consensus of Hold, with a price target consensus of C$6.16.

The company has a one-year high of C$9.83 and a one-year low of C$3.28. Currently, MEG Energy has an average volume of 1.07M.

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 was founded by William J.

The company’s shares closed on Wednesday at C$5.34.