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Stock impact report

Monday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]

Imperial Oil Limited (IMO) 
NASDAQ:AMEX Investor Relations: imperialoil.ca/en-ca/company/investors
decrease ) “strong performance over several years has earned itself a premium valuation, however at current levels we look upon its relative valuation as stretched.” “Our fundamentally constructive stance towards Imperial Oil reflects its solid leadership team, long-life, low-decline upstream portfolio, cash flow diversification via its refining and chemical segments, strong balance sheet, free cash flow generation, commitment to shareholder returns and solid operating performance,” he said. “That said, the relative outperformance and valuation of IMO's common shares appears to have disconnected from its fundamentals. We have downgraded Imperial Oil to Underperform given higher expected relative returns elsewhere.” In justifying his rating revision, Mr. Pardy noted Imperial Oil is now trading at an 2026 estimated debt-adjusted cash flow multiple of 12.9 times (versus U.S. giant Exxon Mobil at 11.2 times and his North American major peer group average of 8.6 times). It also has a Show less Read more
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