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MEG Energy (MEG) Stock Forecast & Price Target

C$27.66
+0.16 (+0.58%)
(As of 01:50 PM ET)

MEG Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 11 Wall Street analysts who have issued ratings for MEG Energy in the last 12 months, the stock has a consensus rating of "Hold." Out of the 11 analysts, 7 have given a hold rating, 3 have given a buy rating, and 1 has given a strong buy rating for MEG.

Consensus Price Target

C$33.08
19.61% Upside
High ForecastC$39.00
Average ForecastC$33.08
Low ForecastC$23.00

According to the 11 analysts' twelve-month price targets for MEG Energy, the average price target is C$33.08. The highest price target for MEG is C$39.00, while the lowest price target for MEG is C$23.00. The average price target represents a forecasted upside of 19.61% from the current price of C$27.66.

TypeCurrent Forecast
7/25/23 to 7/24/24
1 Month Ago
6/25/23 to 6/24/24
3 Months Ago
4/26/23 to 4/25/24
1 Year Ago
7/25/22 to 7/25/23
Consensus Rating
Hold
Hold
Hold
Moderate Buy
Strong Buy
1 Strong Buy rating(s)
1 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
3 Buy rating(s)
3 Buy rating(s)
3 Buy rating(s)
4 Buy rating(s)
Hold
7 Hold rating(s)
7 Hold rating(s)
7 Hold rating(s)
2 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price TargetC$33.08C$32.67C$33.09C$24.44
Forecasted Upside19.61% Upside10.41% Upside12.43% Upside11.75% Upside
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MEG Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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MEG Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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MEG Energy Stock vs. The Competition

TypeMEG EnergyEnergy Companies
Consensus Rating Score
2.45
2.71
Consensus RatingHoldModerate Buy
News Sentiment RatingPositive News
Neutral News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/15/2024Jefferies Financial Group
2 of 5 stars
 Lower TargetHoldC$35.00 ➝ C$32.00+11.03%
7/12/2024Scotiabank
5 of 5 stars
 Boost TargetC$34.00 ➝ C$35.00+22.68%
6/7/2024TD Securities
4 of 5 stars
M. Hulshof
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UpgradeHold ➝ Strong-Buy
5/29/2024Raymond James
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M. Barth
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Set TargetMarket PerformC$28.00-6.13%
4/22/2024CIBC
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 Boost TargetNeutralC$30.00 ➝ C$34.00+9.15%
4/19/2024National Bankshares
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 Boost TargetSector PerformC$32.00 ➝ C$37.00+18.10%
4/9/2024Royal Bank of Canada
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 Boost TargetC$32.00 ➝ C$39.00+18.47%
3/28/2024BMO Capital Markets
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 Boost TargetC$35.00 ➝ C$37.00+18.93%
3/22/2024Desjardins
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 Boost TargetHoldC$30.00 ➝ C$31.00+0.71%
3/20/2024ATB Capital
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 Boost TargetOutperformC$32.00 ➝ C$35.00+15.82%
3/12/2024JPMorgan Chase & Co.
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 Boost TargetC$33.00 ➝ C$34.00+17.20%
8/17/2023The Goldman Sachs Group
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 Boost TargetC$21.50 ➝ C$23.00-4.68%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 02:11 PM ET.

MEG Forecast - Frequently Asked Questions

What is MEG Energy's forecast for 2024?

According to the research reports of 11 Wall Street equities research analysts, the average twelve-month stock price forecast for MEG Energy is C$33.08, with a high forecast of C$39.00 and a low forecast of C$23.00.

Should I buy or sell MEG Energy stock right now?

11 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for MEG Energy in the last twelve months. There are currently 7 hold ratings, 3 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" MEG shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MEG, but not buy additional shares or sell existing shares.

Does MEG Energy's stock price have much upside?

According to analysts, MEG Energy's stock has a predicted upside of 12.24% based on their 12-month stock forecasts.

Has MEG Energy been upgraded by Wall Street analysts recently?

Over the previous 90 days, MEG Energy's stock had 1 upgrade by analysts.

What analysts cover MEG Energy?

MEG Energy has been rated by research analysts at Jefferies Financial Group, Raymond James, Scotiabank, and TD Securities in the past 90 days.

Do Wall Street analysts like MEG Energy more than its competitors?

Analysts like MEG Energy less than other "energy" companies. The consensus rating for MEG Energy is Hold while the average consensus rating for "energy" companies is Moderate Buy. Learn more on how MEG compares to other companies.


This page (TSE:MEG) was last updated on 7/24/2024 by MarketBeat.com Staff

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