Imperial Oil (IMO) Given New C$42.00 Price Target at Morgan Stanley

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Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its price target decreased by stock analysts at Morgan Stanley from C$51.00 to C$42.00 in a research report issued to clients and investors on Wednesday. Morgan Stanley’s target price would indicate a potential upside of 12.66% from the stock’s current price.

A number of other equities analysts have also recently issued reports on IMO. CIBC reiterated an “underperform” rating and set a C$39.00 target price on shares of Imperial Oil in a report on Friday, October 5th. JPMorgan Chase & Co. increased their target price on Imperial Oil from C$45.00 to C$49.00 in a report on Friday, October 5th. Raymond James increased their target price on Imperial Oil from C$45.00 to C$50.00 in a report on Friday, October 5th. Canaccord Genuity upgraded Imperial Oil from a “hold” rating to a “buy” rating and increased their target price for the stock from C$50.00 to C$52.00 in a report on Tuesday, October 16th. Finally, National Bank Financial raised their price objective on Imperial Oil from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a report on Thursday, October 18th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of C$43.36.

IMO stock opened at C$37.28 on Wednesday. The stock has a market cap of $29.12 billion and a price-to-earnings ratio of 23.13. The company has a debt-to-equity ratio of 21.64, a current ratio of 1.20 and a quick ratio of 0.81. Imperial Oil has a 1 year low of C$33.43 and a 1 year high of C$44.91.

Imperial Oil (TSE:IMO) (NYSEMKT:IMO) last released its earnings results on Friday, November 2nd. The company reported C$0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.87 by C$0.11. The firm had revenue of C$9.73 billion for the quarter, compared to the consensus estimate of C$11.18 billion. As a group, sell-side analysts forecast that Imperial Oil will post 2.7299999304132 earnings per share for the current year.

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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Analyst Recommendations for Imperial Oil (TSE:IMO)

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