Barclays Believes Imperial Oil (NYSE MKT: IMO) Still Has Room to Grow

In a report issued on March 31, Christopher Tillett from Barclays maintained a Buy rating on Imperial Oil (IMOResearch Report), with a price target of C$36.00. The company’s shares closed last Thursday at $25.20, close to its 52-week high of $26.21.

According to TipRanks.com, Tillett is a 1-star analyst with an average return of -0.1% and a 62.3% success rate. Tillett covers the Industrial Goods sector, focusing on stocks such as Noble Midstream Partners, Altus Midstream Company, and Equitrans Midstream.

Currently, the analyst consensus on Imperial Oil is a Hold with an average price target of $26.79, a 10.7% upside from current levels. In a report issued on March 25, Desjardins also upgraded the stock to Buy with a C$35.00 price target.

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The company has a one-year high of $26.21 and a one-year low of $10.31. Currently, Imperial Oil has an average volume of 569K.

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Imperial Oil Ltd. engages in the provision of integrated oil business. It operates through the following business segments: Upstream, Downstream, Chemical and Corporate and Other. The Upstream segment includes the exploration and production of crude oil, natural gas, synthetic oil, and bitumen. The Downstream segment focuses on refining crude oil into petroleum products. The Chemical segment manufactures and markets hydrocarbon-based chemicals and chemical products. The Corporate and Other segment covers assets and liabilities that do not specifically relate to business segments. The company was founded on September 8, 1880 and is headquartered in Calgary, Canada.