Credit Suisse Thinks Imperial Oil’s Stock is Going to Recover

By Ryan Adsit

In a new note to investors on May 30, an analyst has provided a rating update for the Materials sector company, Imperial Oil (TSX: IMO). Credit Suisse’s analyst Jason Frew reiterates their Buy rating on the shares, with a C$49 price target.

According to TipRanks.com, Frew is ranked 0 out of 5 stars with an average return of -7.1% and a 35.3% success rate. Frew covers the Basic Materials sector, focusing on stocks such as Penn West Petroleum Ltd, Crescent Point Energy, and Imperial Oil Limited.

Imperial Oil has an analyst consensus of Hold, with a price target consensus of C$46.33.

Imperial Oil’s market cap is currently C$32.41B and has a P/E ratio of 12.6.

Imperial Oil Ltd. is an integrated oil company, which engages in the exploration, production and sale of crude oil and natural gas in Canada. It also petroleum refiner, producer and marketer of petroleum products. The company operates its business through following segments: Upstream, Downstream and Chemical. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil and bitumen. The Downstream segment operations consist of the transportation and refining of crude oil, blending of refined products and the distribution and marketing of those products. The Chemical segment is organized and operates to manufacture and marketing of various petrochemicals. Imperial Oil was founded on September 8, 1880 and is headquartered in Calgary, Canada.

The company’s shares closed last Wednesday at $38.22, close to its 52-week low of $38.11.