CIBC analyst Dennis Fong raised the firm’s price target on Imperial Oil to $76 from $75 and keeps a Neutral rating on the shares. The analyst increased the price target to reflect the Q2 report. Differentials widened modestly after Q2 and crack spreads remained relatively strong, the analyst tells investors in a research note. The firm says the recent strength in crude oil prices has helped pick up share prices in the large-cap energy space.
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Read More on IMO:
- Imperial Oil price target raised to C$77 from C$75 at RBC Capital
- Imperial Oil reports Q2 EPS C$1.15 vs. C$3.63 last year
- IMO Earnings this Week: How Will it Perform?
- Imperial Oil price target lowered to C$82 from C$87 at National Bank
- Imperial Oil initiated with a Buy at UBS
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