Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.
Canaccord Genuity analyst Phil Skolnick is advising clients to sell their shares of Imperial Oil Ltd. after its stock price surged far past those of its peers.
Mr. Skolnick acknowledges that Imperial Oil warrants a premium multiple due to perceived protection from its majority owner, ExxonMobil, along with its longer-than-average reserve life. However, its share price has outperformed peers by an average 10 per cent since its last low reached on Feb. 5, and he believes the stock’s valuation is overly stretched at this point.