CIBC Reiterates Their Hold Rating on Imperial Oil

By Austin Angelo

Imperial Oil (TSX: IMO), the Materials sector company, has received a rating update from a Wall Street analyst on December 3. CIBC’s analyst Arthur Grayfer reiterates their Hold rating on the shares.

According to TipRanks.com, Grayfer is ranked #4484 out of 4729 analysts.

Currently, the analyst consensus on Imperial Oil is Moderate Sell and the average price target is C$41.78, representing a 5.3% upside.

In a report issued on November 20, BMO Capital also reiterated a Hold rating on the stock with a C$43 price target.

Imperial Oil’s market cap is currently C$33.24B and has a P/E ratio of 10.7.

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 company’s shares closed on Wednesday at C$39.69.