---
title: "Menno Hulshof Reiterates Sell on Imperial Oil, Nudges Price Target Up to C$151 Amid Downside-Skewed Risk/Reward"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294858153.md"
description: "TD Cowen analyst Menno Hulshof reiterated a Sell rating on Imperial Oil (IMO) on July 22, raising the price target to C$151. He cited downside-skewed risk/reward, noting shares already discount operational and financial outlooks with limited upside. Goldman Sachs also maintained a Sell rating with a C$133 target."
datetime: "2026-08-04T18:35:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294858153.md)
  - [en](https://longbridge.com/en/news/294858153.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294858153.md)
generator: "portal-rs"
---

# Menno Hulshof Reiterates Sell on Imperial Oil, Nudges Price Target Up to C$151 Amid Downside-Skewed Risk/Reward

TD Cowen analyst Menno Hulshof has maintained their bearish stance on IMO stock, giving a Sell rating on July 22.

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Menno Hulshof has given his Sell rating due to a combination of factors, even as he nudges his target price to C$151 per share. In his view, the shares already discount much of Imperial Oil’s operational and financial outlook, leaving limited upside relative to the current valuation and sector alternatives.

He maintains unchanged EV/DACF and NAV multiples, indicating no material improvement in his longer-term conviction despite minor estimate adjustments. As a result, Hulshof sees a risk‑reward profile that remains skewed to the downside, and believes investors can find more attractive opportunities elsewhere in the Canadian energy space.

In another report released on July 22, Goldman Sachs also maintained a Sell rating on the stock with a C$133.00 price target.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**