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IMI plc ( (GB:IMI) ) has shared an update.
IMI plc has announced the repurchase and cancellation of 92,630 of its ordinary shares, executed through J.P. Morgan Securities plc at an average price of 2,118.5078 pence per share. This transaction reduces the total number of ordinary shares in issue to 260,544,938, with 12,648,836 shares held in treasury, impacting the company’s voting rights and potentially enhancing shareholder value.
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’s strong financial performance and ongoing share buyback program are the most significant factors in its favorable stock score. The technical analysis also supports the positive outlook with strong momentum indicators. Valuation is reasonable, although the dividend yield is somewhat modest.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
Average Trading Volume: 891,794
Technical Sentiment Signal: Buy
Current Market Cap: £5.18B
For a thorough assessment of IMI stock, go to TipRanks’ Stock Analysis page.