The Globe and Mail reports in its Friday, March 1, edition that RBC Capital analyst Greg Pardy is keeping his "sector perform" ranking for Imperial Oil intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Pardy raised his share target to $85 from $82. Analysts on average target the shares at $84.80. Mr. Pardy says in a note, "Our constructive stance toward Imperial Oil reflects 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." The Globe reported on Nov. 2 that TD Securities analyst Menno Hulshof had reaffirmed his "buy" recommendation for Imperial Oil. The shares could then be had for $80.41. The Globe reported on Nov. 8 that Mr. Pardy was sticking with his "sector perform" call for Imperial Oil when it could be had for $76.93. The Globe reported on Jan. 11 that analysts at National Bank Financial had reaffirmed their "sector perform" recommendation for Imperial Oil. The shares could then be had for $77.45.
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