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UPDATE: Raymond James Resumes Coverage on Imperial Oil on Limited Upside Potential Over Next Year


In a report published Tuesday, Raymond James analyst Chris Cox resumed coverage on Imperial Oil Limited (NYSE: IMO) with a Market Perform rating and $50.00 price target.

In the report, Raymond James noted, “We believe upside potential in Imperial's share price over the next year will likely be limited due to diminishing returns on capital relative to the company's historical average and a near-term free cash flow profile that is lagging some of its peers within the large cap energy space in Canada. For longer-term oriented investors that are attracted to the company's growing free cash flow outlook following the completion of the Kearl expansion we would recommend waiting for a more attractive entry point.”

Imperial Oil closed on Monday at $42.56.

Latest Ratings for IMO

Jan 2021Credit SuisseMaintainsNeutral
Dec 2020Credit SuisseMaintainsNeutral
Dec 2020Morgan StanleyDowngradesEqual-WeightUnderweight

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