02:45 AM EDT, 05/06/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of CAD108, cut by CAD5, reflects a 7.7x multiple of enterprise value to projected 2026 EBITDA, in line with IMO's historical forward average. We raised our 2025 EPS estimate by CAD0.64 to CAD8.32, and raised 2026's by CAD0.11 to CAD8.61. We note that IMO benefited in the quarter from a narrowing of the spread between U.S. WTI crude oil and the Canadian counterpart, Western Canada Select. As a result, even though WTI prices declined in Q1 vs. the year-ago quarter, IMO's realized pricing actually improved. We note that IMO is also conducting some planned turnaround activity in 2025, which should help boost results in 2026. The threat of U.S. tariffs on Canadian oil is a bit of a wildcard, which, if implemented, would likely weigh on U.S. refined product demand (and thus demand for IMO's barrels). Nonetheless, we like the risk-reward balance on IMO. Shares yield 3.1%.