Credit Suisse Upgrades Imperial Oil Limited (IMO) to Outperform

October 24, 2016 9:42 AM EDT
Get Alerts IMO Hot Sheet
Price: $33.02 -0.96%

Rating Summary:
    1 Buy, 6 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Credit Suisse upgraded Imperial Oil Limited (NYSE: IMO) from Neutral to Outperform.

Analyst Jason Frew commented, "IMO's FCF after dividends expands materially in 2017+ even while funding growth capital that could add ~25% to the company's production base in 2020+. With the balance sheet moving to a net cash position by 2019, we expect a buyback could be introduced along the way. Given the favorable outlook, we upgrade IMO from Neutral to Outperform"

For an analyst ratings summary and ratings history on Imperial Oil Limited click here. For more ratings news on Imperial Oil Limited click here.

Shares of Imperial Oil Limited closed at $32.74 yesterday.

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