Imperial Oil (TSE:IMO) (NYSEMKT:IMO) was downgraded by equities researchers at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Thursday. They currently have a C$40.00 price target on the stock, down from their previous price target of C$54.00. Canaccord Genuity’s price target points to a potential upside of 13.31% from the company’s previous close.
A number of other brokerages have also recently commented on IMO. Goldman Sachs Group upgraded Imperial Oil from a “sell” rating to a “buy” rating in a research note on Friday, October 19th. CIBC reiterated an “underperform” rating and issued a C$39.00 price target on shares of Imperial Oil in a research note on Friday, October 5th. Raymond James increased their price target on Imperial Oil from C$45.00 to C$50.00 in a research note on Friday, October 5th. JPMorgan Chase & Co. increased their price target on Imperial Oil from C$45.00 to C$49.00 in a research note on Friday, October 5th. Finally, National Bank Financial increased their price target on Imperial Oil from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of C$45.14.
TSE IMO opened at C$35.30 on Thursday. The company has a debt-to-equity ratio of 21.64, a quick ratio of 0.81 and a current ratio of 1.20. Imperial Oil has a fifty-two week low of C$33.43 and a fifty-two week high of C$44.91.
Imperial Oil Company Profile
Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. The Upstream segment explores for and produces crude oil, natural gas, synthetic oil, and bitumen. As of December 31, 2017, this segment had 450 million oil-equivalent barrels of proved undeveloped reserves.
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