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