Imperial Oil Upgraded to “Outperform” by Zacks (IMO)

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Zacks upgraded shares of Imperial Oil (NYSE:IMO) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday, Analyst Ratings Net reports. The firm currently has $47.70 price target on the stock.

Zacks has also taken action a number of other basic materials stocks recently. The firm downgraded shares of SouFun Holdings from an outperform rating to a neutral rating. Their analysts now have a $96.80 price target on that stock. Also, Zacks downgraded shares of Monarch Financial from a neutral rating to an underperform rating. Their analysts now have a $10.90 price target on that stock. Finally, Zacks upgraded shares of Flextronics International Ltd. from a neutral rating to an outperform rating. Zacks now has a $8.90 price target on that stock.

Several other analysts have also recently commented on the stock. Analysts at Scotiabank upgraded shares of Imperial Oil from an underperform rating to a sector perform rating in a research note to investors on Monday. Separately, analysts at Raymond James initiated coverage on shares of Imperial Oil in a research note to investors on Tuesday, December 3rd. They set a market perform rating and a $50.00 price target on the stock. Finally, analysts at TD Securities downgraded shares of Imperial Oil from a buy rating to a hold rating in a research note to investors on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Imperial Oil has a consensus rating of Hold and a consensus price target of $49.10.

Shares of Imperial Oil (NYSE:IMO) traded down 0.02% during mid-day trading on Tuesday, hitting $40.94. The stock had a trading volume of 161,876 shares. Imperial Oil has a one year low of $37.09 and a one year high of $45.67. The stock’s 50-day moving average is $42.53 and its 200-day moving average is $42.81. The company has a market cap of $34.701 billion and a P/E ratio of 12.10.

Imperial Oil (NYSE:IMO) last announced its earnings results on Thursday, January 30th. The company reported $1.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.01 by $0.10. Analysts expect that Imperial Oil will post $4.21 EPS for the current fiscal year.

Imperial Oil Limited (NYSE:IMO) is a Canada-based integrated oil company.

To view Zacks’ full report, visit www.zacks.com

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