Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
IMI plc ( (GB:IMI) ) has shared an update.
IMI plc has announced the purchase and cancellation of 45,056 of its ordinary shares at an average price of 2,199.0719 pence per share, executed through J.P. Morgan Securities plc. This transaction reduces the total number of ordinary shares in issue to 259,943,323, with 12,648,836 shares held in treasury, impacting the total voting rights to 247,294,487. This move is part of IMI’s ongoing strategy to manage its capital structure and could potentially enhance shareholder value by reducing the number of shares outstanding.
The most recent analyst rating on (GB:IMI) stock is a Buy with a £2205.00 price target. To see the full list of analyst forecasts on IMI plc stock, see the GB:IMI Stock Forecast page.
Spark’s Take on GB:IMI Stock
According to Spark, TipRanks’ AI Analyst, GB:IMI is a Outperform.
IMI plc shows robust financial performance and technical strength, although it may be slightly overvalued. The positive impact of share buybacks and analyst ratings enhances the stock’s attractiveness.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
Average Trading Volume: 854,803
Technical Sentiment Signal: Buy
Current Market Cap: £5.4B
For a thorough assessment of IMI stock, go to TipRanks’ Stock Analysis page.