Scotiabank has revised its price target for Imperial Oil (IMO, Financial), reducing it from C$110 to C$100. Despite this adjustment, the bank maintains its Sector Perform rating on the company's shares. This change is part of a broader update to the bank's outlook on Canadian exploration and production (E&P) stocks.
The decision to lower the price target reflects Scotiabank's anticipation of weaker global oil prices impacting Canadian oil benchmarks over the next few years, particularly in 2025 and 2026. The firm suggests that these challenging market conditions could influence the performance of companies within the industry, including Imperial Oil.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Imperial Oil Ltd (IMO, Financial) is $73.55 with a high estimate of $78.55 and a low estimate of $67.12. The average target implies an upside of 22.74% from the current price of $59.92. More detailed estimate data can be found on the Imperial Oil Ltd (IMO) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Imperial Oil Ltd's (IMO, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Imperial Oil Ltd (IMO, Financial) in one year is $74.07, suggesting a upside of 23.61% from the current price of $59.92. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Imperial Oil Ltd (IMO) Summary page.
