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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (53578)	1/22/2019 7:13:15 AM
From: Goose94	Read Replies (1) of 203316

MEG Energy (MEG-T) AltaCorp Capital analyst Nicholas Lupick says the sell-off in MEG Energy since Husky Energy (HSE-T) abandoned its takeover bid has created an opportunity for investors. Mr. Lupick upgraded MEG to "sector perform" from "underperform." He continues to target the shares at $8, which is 57 cents lower than the consensus. Mr. Lupick says in a note: "Since July 1 (when Canadian differentials began to show signs of widening), and following this week's sell-off, the stock is now down 51 per cent -- underperforming its peers which have fallen 39 per cent on average. As we have highlighted numerous times, we continue to believe that MEG has among the best thermal heavy oil resource in the Athabasca Fairway -- consistently achieving some of the lowest operating costs in the basin. We continue to believe that MEG is an ideal investment candidate for investors with a high risk tolerance (given the company's leverage) looking for exposure to a rebound in commodity prices. JP Morgan commenced coverage on MEG with an "underweight" rating. Its shares were then worth $7.07.

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