Imperial Oil (IMO) is a Canadian based oil and gas explorer. The stock has moved higher over the last month, and the stage is set for additional appreciation through the remainder of the year. Even with the recent gains, the stock’s valuation remains attractive, with a P/E of just 12.7. Analysts forecast earnings growth of 116% for the current year, and see profits rising an additional 35.5% next year. The stock remains well below where it was trading at the end of last year, and as long as oil prices hold their recent gains or move higher there is the potential for the stock to trend higher through the remainder of the year.
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