Credit Suisse Upgrades Imperial Oil Limited (IMO) to Outperform
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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"
Shares of Imperial Oil Limited closed at $32.74 yesterday.
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