Goldman Sachs Group Trims Imperial Oil (IMO) Target Price to C$41.00
Imperial Oil (TSE:IMO) (NYSEMKT:IMO) had its target price decreased by investment analysts at Goldman Sachs Group from C$43.00 to C$41.00 in a report issued on Friday. Goldman Sachs Group’s target price would suggest a potential upside of 5.75% from the stock’s previous close.
A number of other equities research analysts have also recently weighed in on IMO. Raymond James raised their price target on Imperial Oil from C$39.00 to C$45.00 in a report on Thursday, July 5th. CSFB lifted their target price on Imperial Oil from C$47.00 to C$54.00 in a research note on Wednesday, July 11th. Canaccord Genuity lifted their target price on Imperial Oil from C$40.00 to C$45.00 in a research note on Monday, May 14th. National Bank Financial lifted their target price on Imperial Oil from C$40.00 to C$45.00 and gave the company a “c$43.73” rating in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada lifted their target price on Imperial Oil from C$43.00 to C$45.00 and gave the company a “sector perform” rating in a research note on Thursday, June 14th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$44.31.
IMO stock traded down C$1.22 during midday trading on Friday, reaching C$38.77. 527,265 shares of the company’s stock traded hands, compared to its average volume of 981,541. Imperial Oil has a 1-year low of C$33.43 and a 1-year high of C$44.91.
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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