The Globe and Mail reports in its Friday, Feb. 20, edition that Desjardins Securities analyst Chris MacCulloch has reiterated his "sell" recommendation for Imperial Oil. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacCulloch's share target soared $12 to $132. Analysts on average target the shares at $118.25. Mr. MacCulloch says in a note: "Following several years of smooth sailing, Imperial Oil faced choppier conditions in 4Q25, suffering its first operational headwinds at Kearl since a deep freeze in early 2022. This time, rainfall was the primary culprit, dumping the equivalent of nearly a full season of precipitation on the mine site in October. These conditions turned the mine into a mud-soaked quagmire, bringing shovel and haul truck activity to a crawl for what had been one of the most reliable performing mining assets in the Canadian oil sands. That said, we view the quarterly miss at Kearl as a speed bump for the company, with management already identifying opportunities to adjust operating strategy to mitigate future rain impact, building on its previous success implementing an enhanced winterization strategy following the 2022 deep freeze."