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IMI plc ( (GB:IMI) ) has provided an update.
IMI plc has announced the repurchase and cancellation of 50,200 of its ordinary shares at an average price of 2,190.5930 pence per share. This transaction, executed through J.P. Morgan Securities plc, reduces the total number of ordinary shares in issue to 259,698,404, with 12,648,836 shares held in treasury, impacting the total number of voting rights to 247,049,568.
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 scores strongly due to its solid financial performance and strategic share buyback program, which are significant factors in enhancing shareholder value. The technical indicators are positive but warrant caution due to potential overvaluation signals. The exceptionally high dividend yield supports the stock’s attractiveness despite a high P/E ratio.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
Average Trading Volume: 826,637
Technical Sentiment Signal: Buy
Current Market Cap: £5.42B
Find detailed analytics on IMI stock on TipRanks’ Stock Analysis page.
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