TD Forecasts Strong Price Appreciation for Imperial Oil (TSE:IMO) Stock

Key Points

• TD raised its price objective on Imperial Oil from C$110 to C$157 but maintained a "sell" rating; TD's target implies roughly an 8.9% downside from the current share price.
• Analyst consensus is a "Strong Sell" (six Sell, four Hold) with a consensus price target of C$137.58, despite some brokers — notably UBS — boosting targets as high as C$185.
• Imperial Oil is trading at C$172.33 (market cap C$83.34B) with a PE of 26.6, reported quarterly EPS of C$1.97, and analysts projecting about 8.62 EPS for the current year.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO had its price objective increased by TD from C$110.00 to C$157.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "sell" rating on the stock. TD's price target points to a potential downside of 8.90% from the stock's current price.

Several other brokerages have also recently issued reports on IMO. Desjardins boosted their price objective on shares of Imperial Oil from C$120.00 to C$132.00 and gave the company a "sell" rating in a research note on Friday, February 20th. UBS Group boosted their price objective on shares of Imperial Oil from C$155.00 to C$185.00 in a research note on Monday, March 16th. TD Securities boosted their price objective on shares of Imperial Oil from C$101.00 to C$110.00 and gave the company a "sell" rating in a research note on Monday, February 23rd. Royal Bank Of Canada boosted their price objective on shares of Imperial Oil from C$116.00 to C$124.00 and gave the company an "underperform" rating in a research note on Wednesday, April 8th. Finally, Raymond James Financial boosted their price objective on shares of Imperial Oil from C$107.00 to C$126.00 in a research note on Monday, March 30th. Four analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Sell" and a consensus price target of C$137.58.

Imperial Oil Trading Up 0.5%

IMO traded up C$0.79 during trading on Thursday, hitting C$172.33. The company's stock had a trading volume of 293,305 shares, compared to its average volume of 898,207. The firm's 50 day moving average price is C$168.54 and its 200-day moving average price is C$142.73. The company has a debt-to-equity ratio of 19.69, a current ratio of 1.27 and a quick ratio of 0.98. The stock has a market cap of C$83.34 billion, a PE ratio of 26.59, a PEG ratio of 0.21 and a beta of 0.52. Imperial Oil has a twelve month low of C$86.39 and a twelve month high of C$185.73.

Imperial Oil (TSE:IMO - Get Free Report) NYSEMKT: IMO last issued its quarterly earnings results on Friday, January 30th. The company reported C$1.97 earnings per share for the quarter. The company had revenue of C$11.28 billion during the quarter. Imperial Oil had a return on equity of 14.75% and a net margin of 7.02%. On average, analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.