JPMorgan analyst John Royall upgraded MEG Energy to Overweight from Neutral with a C$23 price target. The Canadian oil group has underperformance and the discount now appears overdone, Royall tells investors in a research note. MEG is a pure play in-situ oil sands company, with a high quality asset in Christina Lake, and has the highest "oil price torque" in the sector, says the analyst.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on MEGEF:
