Raymond James Financial Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Key Points

• Raymond James raised its price target on Imperial Oil to C$126 (from C$107), but that target still implies about a 30.8% downside versus the recent C$182 share price.
• Analyst sentiment is largely negative—four Hold and five Sell ratings—leaving a MarketBeat consensus of "Strong Sell" with an average target of C$124.18.
• Imperial traded at C$182 (near its one-year high of C$185.13), with a market cap of C$88.01 billion, a P/E of 28.09, and reported quarterly EPS of C$1.97 on C$11.28 billion in revenue.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price objective raised by equities research analysts at Raymond James Financial from C$107.00 to C$126.00 in a research note issued to investors on Monday,BayStreet.CA reports. Raymond James Financial's target price would suggest a potential downside of 30.77% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the company. TD Securities lifted their price objective on Imperial Oil from C$101.00 to C$110.00 and gave the company a "sell" rating in a report on Monday, February 23rd. JPMorgan Chase & Co. raised their target price on Imperial Oil from C$99.00 to C$108.00 in a research report on Tuesday, February 3rd. Royal Bank Of Canada cut Imperial Oil from a "sector perform" rating to an "underperform" rating and set a C$116.00 price target on the stock. in a research report on Monday, February 23rd. Desjardins increased their price objective on Imperial Oil from C$120.00 to C$132.00 and gave the stock a "sell" rating in a research note on Friday, February 20th. Finally, UBS Group boosted their target price on shares of Imperial Oil from C$155.00 to C$185.00 in a research note on Monday, March 16th. Four research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of "Strong Sell" and an average target price of C$124.18.

Imperial Oil Stock Performance

Imperial Oil stock traded up C$0.75 on Monday, hitting C$182.00. The company's stock had a trading volume of 298,740 shares, compared to its average volume of 932,434. Imperial Oil has a one year low of C$82.98 and a one year high of C$185.13. The firm has a market cap of C$88.01 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 0.21 and a beta of 0.90. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 19.69. The company has a fifty day moving average price of C$158.32 and a 200-day moving average price of C$138.19.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last released its quarterly earnings data on Friday, January 30th. The company reported C$1.97 EPS for the quarter. The company had revenue of C$11.28 billion during the quarter. Imperial Oil had a net margin of 7.02% and a return on equity of 14.75%. On average, equities analysts anticipate that Imperial Oil will post 8.6164609 earnings per share for the current year.

Imperial Oil Company Profile

Imperial Oil is one of Canada's largest integrated oil companies, focusing on upstream operations, petroleum refining operations, and the marketing of petroleum products. Production averaged 398 thousand barrels of oil equivalent per day in 2020. The company estimates that it holds 5.2 billion boe of proved and probable crude oil and natural gas reserves. Imperial remains the largest refiner of petroleum products in Canada, operating three refineries with a combined processing capacity of 421 mboe/d.

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