Companies in the Utilities sector have received a lot of coverage today as analysts weigh in on Imperial Oil (IMO) and Cenovus Energy (CVE).
Imperial Oil (IMO)
In a report released today, Gregory Pardy from RBC Capital maintained a Hold rating on Imperial Oil, with a price target of C$39.00. The company’s shares closed last Friday at $31.27, close to its 52-week high of $31.38.
According to TipRanks.com, Pardy is a 4-star analyst with an average return of 9.0% and a 52.6% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.
The word on The Street in general, suggests a Hold analyst consensus rating for Imperial Oil with a $30.42 average price target, implying a -0.8% downside from current levels. In a report issued on May 3, BMO Capital also maintained a Hold rating on the stock with a C$40.00 price target.
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Cenovus Energy (CVE)
CIBC analyst Dennis Fong reiterated a Buy rating on Cenovus Energy today and set a price target of C$16.00. The company’s shares closed last Friday at $8.01, close to its 52-week high of $8.57.
According to TipRanks.com, Fong is ranked 0 out of 5 stars with an average return of -3.7% and a 40.9% success rate. Fong covers the Utilities sector, focusing on stocks such as Gran Tierra Energy, Canadian Natural, and Bonterra Energy.
Cenovus Energy has an analyst consensus of Moderate Buy, with a price target consensus of $10.85, representing a 36.0% upside. In a report issued on April 28, RBC Capital also maintained a Buy rating on the stock with a C$12.00 price target.
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