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Fly News Breaks for November 2, 2017
IMO
Nov 2, 2017 | 05:01 EDT
Barclays analyst Paul Cheng double downgraded Imperial Oil to Underweight from Overweight and lowered his price target for the shares to C$38 from C$44. The company's reduced free cash flow yield makes a premium multiple compared to other Canadian major oil companies hard to justify, the analyst contends.
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