The Globe and Mail reports in its Thursday, Nov. 2, edition that TD Securities analyst Menno Hulshof has reaffirmed his "buy" recommendation for Imperial Oil. The Globe's David Leeder writes that Mr. Hulshof cut his share target back by $7 to $93. Analysts on average target Imperial Oil shares at $85.83. Mr. Hulshof says in a note: "Imperial Oil remains a very clean story. We expect it to continue to return the majority of excess free cash flow to shareholders, with potential for a fourth $1.5-billion-plus SIB in 2024, in our view (vs. largest to date at $2.5-billion). It offers a best-in-class balance sheet, strong fiscal discipline (relatively flat upstream growth/capex profile through 2027) and strong capital returns, although its framework remains less defined than peers. It currently trades at a 15-per-cent strip 2024E FCF yield, below peers at 17 per cent. Our target price falls to $93.00/share on a revised NAV multiple." The Globe reported on Sept. 19 that Desjardins rated Imperial Oil "buy." It was then worth $79.27. The Globe reported on Oct. 13 that National Bank Financial analysts Travis Wood and Dan Payne continued to rate Imperial Oil "sector perform." The shares could then be had for $83.12.