TipRanks analyst ranking service pinpoints Wall Street’s best-performing stocks, including Adobe and Broadcom.
) can be a great stock to hedge your portfolio against the uncertainties facing the markets this year.is working relentlessly on a blueprint that will steer the company to a zero-emission future. With the support of advanced technologies, the company is rapidly progressing toward its goal. Imperial expects these technologies to reduce the intensity of carbon emissions by 25% to 90% in its upcoming oil sands production projects.
Pardy thinks that Imperial"possesses a capable leadership team, a favorable long-term operating outlook, a strong balance sheet, and a commitment to shareholder returns." Moreover, the analyst also points out that strong production rates in Imperial's property in Kearl in northern Alberta is lifting the company's overall operating momentum, further fueled by an improving cost structure.
Pardy reiterated a buy rating on the stock, and lifted the price target to $78 from $66."Our recent discussion with Imperial's CEO, Brad Corson, at the RBC Global Energy, Power & Infrastructure Conference emphasized strength in the company's downstream segment amid a significant commodity price tailwind and Imperial's commitment to ongoing shareholder returns," the analyst wrote.
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