Analysts Trim Price Targets on Imperial Oil (IMO)

Company Overview - Imperial Oil Limited (NYSEAMERICAN:IMO) produces high-quality fuels, lubricants, and chemical products marketed under the Esso and Mobil brands [1] Analyst Ratings and Price Targets - TD Securities lowered its price target on Imperial Oil from C$107 to C$106 while maintaining a 'Sell' rating [2] - BMO Capital downgraded the stock from 'Outperform' to 'Market Perform', reducing its price target from C$132 to C$129 [2] - Analysts suggest that despite Imperial's strong financial position, it offers limited short-term upside potential compared to industry peers [2] Capital Expenditure Plans - Imperial Oil announced plans to increase its FY 2026 capital spending to C$2 billion-C$2.2 billion, up from the C$1.9 billion-C$2.1 billion range for the current year [3] Production and Refinery Forecasts - The company expects upstream production to be between 441,000 to 460,000 barrels of oil equivalent per day (boepd) for 2026, compared to 433,000 to 456,000 boepd projected for 2025 [4] - Refinery throughput is forecasted at 395,000 to 405,000 barrels per day in 2026, down from 405,000 to 415,000 barrels per day expected this year due to planned turnaround activities at the Sarnia and Strathcona refineries [4]