MEG Energy (MEG) Stock Forecast & Price Target

C$27.91

+0.41 (+1.49%)

(As of 07/26/2024 ET)

Stock Analysis Analyst Forecasts Chart Competitors Earnings Headlines Insider Trades

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

Hold
Based on 11 Analyst Ratings

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
18.54% Upside

High Forecast	C$39.00
Average Forecast	C$33.08
Low Forecast	C$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 18.54% from the current price of C$27.91.

Type	Current Forecast 7/27/23 to 7/26/24	1 Month Ago 6/27/23 to 6/26/24	3 Months Ago 4/28/23 to 4/27/24	1 Year Ago 7/27/22 to 7/27/23
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 Target	C$33.08	C$32.67	C$33.09	C$24.44
Forecasted Upside	18.54% Upside	10.41% Upside	12.43% Upside	11.75% Upside

Get MEG Energy Upgrade and Downgrade Alerts

Sign-up to receive the latest news and ratings for MEG and its competitors with MarketBeat's FREE daily newsletter.

Ad Unstoppable Prosperity

“Generational Bull Run” Incoming

LIVE Cash Flow Workshop Event / Hosted Virtually Weds @ 7PM EST Everyone who attends will also receive 3 special FREE Gifts during the event.

You can find out what they are by clicking here now.

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.

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.

MEG Energy Stock vs. The Competition

Type	MEG Energy	Energy Companies
Consensus Rating Score	2.45	2.72
Consensus Rating	Hold	Moderate Buy
News Sentiment Rating	Positive News	Neutral News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
7/15/2024	Jefferies Financial Group 2 of 5 stars		Lower Target	Hold	C$35.00 ➝ C$32.00	+11.03%
7/12/2024	Scotiabank 5 of 5 stars		Boost Target		C$34.00 ➝ C$35.00	+22.68%
6/7/2024	TD Securities 4 of 5 stars	M. Hulshof Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
5/29/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Barth Subscribe to MarketBeat All Access for the recommendation accuracy rating	Set Target	Market Perform	C$28.00	-6.13%
4/22/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	C$30.00 ➝ C$34.00	+9.15%
4/19/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform	C$32.00 ➝ C$37.00	+18.10%
Get the Latest News and Ratings for MEG and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for MEG Energy and its competitors with MarketBeat's FREE daily newsletter.
4/9/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$32.00 ➝ C$39.00	+18.47%
3/28/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$35.00 ➝ C$37.00	+18.93%
3/22/2024	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	C$30.00 ➝ C$31.00	+0.71%
3/20/2024	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$32.00 ➝ C$35.00	+15.82%
3/12/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$33.00 ➝ C$34.00	+17.20%
8/17/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$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 Saturday at 12:45 AM 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 analysts have issued "buy," "hold," and "sell" ratings for MEG Energy in the last year. There are currently 7 hold ratings, 3 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street 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.