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Analysts Offer Insights on Utilities Companies: Continental Resources (CLR), MEG Energy (OtherMEGEF) and ARC Resources (OtherAETUF)

Analysts have been eager to weigh in on the Utilities sector with new ratings on Continental Resources (CLRResearch Report), MEG Energy (MEGEFResearch Report) and ARC Resources (AETUFResearch Report).

Continental Resources (CLR)

In a report issued on July 29, Scott Hanold from RBC Capital maintained a Hold rating on Continental Resources, with a price target of $80.00. The company’s shares closed last Monday at $67.93.

According to TipRanks.com, Hanold is a top 25 analyst with an average return of 29.4% and a 65.5% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, California Resources Corp, and Northern Oil And Gas.

Currently, the analyst consensus on Continental Resources is a Hold with an average price target of $75.73, which is an 11.9% upside from current levels. In a report released yesterday, Scotiabank also downgraded the stock to Hold with a $90.00 price target.

See the top stocks recommended by analysts >>

MEG Energy (MEGEF)

In a report issued on July 29, Gregory Pardy from RBC Capital maintained a Buy rating on MEG Energy, with a price target of C$24.00. The company’s shares closed last Monday at $13.30.

According to TipRanks.com, Pardy is a top 100 analyst with an average return of 25.3% and a 60.3% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.

MEG Energy has an analyst consensus of Moderate Buy, with a price target consensus of $19.24, which is a 38.8% upside from current levels. In a report issued on July 18, National Bank also maintained a Buy rating on the stock with a C$30.00 price target.

ARC Resources (AETUF)

In a report issued on July 29, Michael Harvey from RBC Capital maintained a Buy rating on ARC Resources, with a price target of C$26.00. The company’s shares closed last Monday at $13.90.

According to TipRanks.com, Harvey is a 5-star analyst with an average return of 25.6% and a 54.4% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Birchcliff Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for ARC Resources with a $19.44 average price target, which is a 52.8% upside from current levels. In a report issued on July 18, National Bank also maintained a Buy rating on the stock with a C$27.00 price target.

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