Imperial Oil Maintained at Underperformer at CIBC Ahead of Q4 Results

MT Newswires Live00:19

CIBC Capital Market on Monday reiterated its underperformer rating on the shares of Imperial Oil (IMO.TO) with a C$110.00 price target ahead of fourth-quarter results from the oil producer and refiner.

"We estimate Q4/25 production of 471.8 MBoe/d and CFPS of $3.22 vs. consensus of 458.8 MBoe/d and $3.12, respectively. Share repurchases under its NCIB were completed around December 18, 2025, with ExxonMobil participating on a pro rata basis. Given the current commodity price environment, and the pullback in crack spreads, we expect the company will look to build cash through H1/26 with plans to accelerate share repurchases once the NCIB is renewed in late June. We expect strong production levels (in line with previous Q4s) given favourable weather conditions in Q4, alongside relatively little maintenance across the asset base.," the bank noted.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 138.25, Change: -0.30, Percent Change: -0.22

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