The Globe and Mail reports in its Tuesday, March 5, edition that Desjardins Securities analyst Chris MacCulloch has reaffirmed his "hold" recommendation for Imperial Oil. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch's share target soared $9 to $86. Analysts on average target the shares at $84.96. Mr. MacCulloch says in a note: "Stellar mine performance at Kearl and improving crack spreads should lay the foundation for another year of robust capital returns, with visibility to exhausting another NCIB and a $1.5–billion to $2-billion SIB in 2H24 based on current strip prices after funding the recent 20-per-cent quarterly dividend increase. However, we maintain our 'hold' rating given the limited potential return to our $86 target." The Globe reported on Jan. 25, 2023, and Sept. 19, 2023, that Mr. MacCulloch rated Imperial Oil "hold." The shares could then be had for $69.49 and $79.27. The Globe reported on Aug. 4, 2023, that RBC Dominion Securities analyst Greg Pardy rated Imperial Oil "sector perform." It was then worth $71.11.