Desjardins downgrades Canadian energy stocks on bearish oil outlook
Investing.com -- Desjardins Capital Markets downgraded three Canadian oil companies: Imperial Oil Ltd (TSX:IMO), Tamarack Valley Energy Ltd (TSX:TVE), and Whitecap Resources Inc . (TSX:WCP); citing bearish commodity forecasts and tighter capital returns amid softening oil prices and a stronger Canadian dollar. The firm now favors natural gas–weighted and integrated producers with downside protection.