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Posted by
Two Blokes Jul 9 -
Filed in
Stock
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7 views
Imperial Oil has rallied 30% YTD, but further outperformance is unlikely unless oil prices recover, so I shift my rating from 'buy' to 'hold.' Strong cash flow generation and aggressive share buybacks make IMO a low-risk holding, but current valuation multiples are no longer attractive for capital appreciation. The company remains a solid choice for dividend and dividend growth investors, but upside is limited until share prices fall or oil prices firm up.
