Imperial Oil price target raised to C$110 from C$82 at National Bank

National Bank raised the firm’s price target on Imperial Oil to C$110 from C$82 and keeps a Sector Perform rating on the shares. The analyst remains constructive on both crude oil and natural gas supply/demand fundamentals over the short to medium term, while acknowledging the continued concerns surrounding a potential global recession, prolonged periods of inflation hampering demand and the potential for macro contagion.