Barclays Maintains an 'Overweight' on Imperial Oil Limited (IMO); Q2 Preview

Barclays maintains an 'Overweight' on Imperial Oil Limited (NYSE: IMO) price target of C$60.

Barclays analyst says, "We fine-tune our EPS estimates for IMO following final mark-to-market on our commodity price deck. We now forecast 2Q11, 3Q11, and 4Q11 EPS at C$1.05, C$0.99, and C$1.03 from C$1.04, C$1.01, and C$1.06, previously...We expect IMO to report 2Q11 EPS of C$1.05, compared to consensus of C$1.02 per share."

"Upstream: Earnings are expected to be C$631 million, compared to C$446 million in 2Q10 and C$528 million in 1Q11. Production is expected to be 235 mboe/d, down 7% y-o-y and 8% q-o-q."

For more ratings news on Imperial Oil Limited click here and for the rating history of Imperial Oil Limited click here.

Shares of Imperial Oil Limited closed at $47.03 yesterday.

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