Raymond James upgraded Imperial Oil (IMO) to Outperform from Market Perform with a price target of C$104, down from C$108. The shares are now pricing in $56 per barrel oil into perpetuity, creating an attractive risk/reward from here, the analyst tells investors in a research note. The firm expects an in-line quarter from Imperial Oil and sees the April 17 investor day as being a potential positive catalyst. It expects the company to talk more about growth projects and solvent applications.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IMO:
- Imperial Oil upgraded to Outperform from Market Perform at Raymond James
- Imperial Oil Announces 2025 Investor Day in Toronto
- Imperial Oil downgraded to Sell from Neutral at Goldman Sachs
- Imperial Oil price target lowered to C$92 from C$96 at Morgan Stanley
- Imperial Oil Announces CEO Retirement and Successor