Imperial Oil price target raised to $76 from $75 at CIBC

CIBC analyst Dennis Fong raised the firm’s price target on Imperial Oil to $76 from $75 and keeps a Neutral rating on the shares. The analyst increased the price target to reflect the Q2 report. Differentials widened modestly after Q2 and crack spreads remained relatively strong, the analyst tells investors in a research note. The firm says the recent strength in crude oil prices has helped pick up share prices in the large-cap energy space.