The Globe and Mail reports in its Wednesday, Nov. 8, edition that RBC analyst Greg Pardy is sticking with his "sector perform" call for Imperial Oil. The Globe's David Leeder writes that Mr. Pardy gave his share target a $5 boost to $85. Analysts on average target the shares at $86.06. Following its third quarter results, Mr. Pardy reiterated his "constructive" stance on Imperial Oil, pointing to "its long-life, low-decline upstream portfolio, cash flow diversification via its refining and chemical segments, strong balance sheet, free cash flow generation, abundant shareholder returns and solid operating performance in recent years." Mr. Pardy says in a note: "Imperial reiterated its commitment to shareholder returns alongside its third quarter results, where the company announced it will commence a $1.5-billion SIB which will be completed by year-end. Imperial will repurchase its shares under the SIB via the modified Dutch auction procedure with a tender price range of $78.50 to $94 per share. Imperial delivered quite respectable third quarter results amid in-line upstream production of 423,000 boe/d, modestly lower R&M (after-tax) earnings of $586 million, and a larger current tax expense of $667 million."