The Globe and Mail reports in its Friday, Jan. 16, edition that Raymond James analysts have reaffirmed their "underperform" recommendation for Imperial Oil. The Globe's David Leeder writes in the Eye On Equities column that the James analysts gave their share target a $4 trim to $106. Analysts on average target the shares at $114.89. The James analysts say in a note: "In senior oil and gas we expect broadly uneventful quarters. With some prereleased ops updates and two months of public data, consensus volume estimates look reasonable across the board. It's also too early in the year to expect much in the way of changes to recently released FY26 guidance despite macro volatility. Our estimates and targets come down slightly across the board on a lower near-term commodity price deck, but our pecking order remains unchanged with Cenovus leading the pack, Suncor a close second, Canadian Natural rounding out the 'outperforms,' and Imperial Oil at the bottom of the pecking order. While we like Cenovus best longer term, we do note that Suncor has the most exciting story du jour, with a positive rate of change in the in situ business heading into the March Investor Day."