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Analyst Actions: Imperial Metals Price Target Lower at CIBC World

Imperial Metals Corp. (III.TO) second quarter earnings per share came in well below Street expectations, but CIBC World Markets Inc. analyst Ian Parkinson believes stock "has considerable upside, and should be bought at these levels," the Globe and Mail reported.

Mr. Parkinson reportedly said in a research note today that he believes that the company should be bought for growth potential, as copper-equivalent production is forecast to rise 19% over the next five years when compounded annually.

CIBC World Market maintained a "sector outperformer" rating and trimmed his price target by $1 to $35.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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