Imperial Oil cut to 'underperform'; RBC sees stock 'disconnected from its fundamentals'

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Imperial Oil’s stock has been downgraded to “underperform” by RBC Capital Markets, with analyst Greg Pardy stating that its valuation is “stretched” and disconnected from its fundamentals after a significant rally. This follows a similar downgrade from BMO in December. Despite a price target raise by TD Cowen, that analyst also maintains a “sell” rating due to the stock’s high valuation compared to peers.

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