BMO Capital downgraded Imperial Oil (IMO) to Market Perform from Outperform with a price target of C$129, down from C$132. The shares not reflect a large valuation premium to peers an d offer limited near-term upside, the analyst tells investors in a research note. The firm says that while Imperial continues to boast one of the strongest financial positions, several peers offer more compelling relative value.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IMO:
- Imperial Oil downgraded to Underperform from Market Perform at Raymond James
- Imperial Oil put buyer realizes 17% same-day gains
- Imperial Oil price target raised to C$101 from C$97 at Morgan Stanley
- Imperial Oil’s Earnings Call: Record Gains Amid Challenges
- Imperial Oil price target raised to C$118 from C$117 at RBC Capital