There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Imperial Oil (IMO) and Whitecap Resources (SPGYF) with bullish sentiments.
Imperial Oil (IMO)
In a report released yesterday, Neil Mehta from Goldman Sachs reiterated a Buy rating on Imperial Oil, with a price target of C$36.00. The company’s shares closed last Tuesday at $25.88, close to its 52-week high of $26.21.
According to TipRanks.com, Mehta is a 4-star analyst with an average return of 6.4% and a 59.1% success rate. Mehta covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Par Pacific Holdings.
Imperial Oil has an analyst consensus of Hold, with a price target consensus of $28.09.
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Whitecap Resources (SPGYF)
In a report released yesterday, Christopher Jones from Haywood maintained a Buy rating on Whitecap Resources, with a price target of C$8.50. The company’s shares closed last Tuesday at $4.28.
Currently, the analyst consensus on Whitecap Resources is a Strong Buy with an average price target of $6.18, which is a 45.4% upside from current levels. In a report issued on April 12, RBC Capital also maintained a Buy rating on the stock with a C$7.50 price target.
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