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IMI plc ( (GB:IMI) ) has shared an announcement.
IMI plc, a company involved in engineering and manufacturing, announced the repurchase of 50,400 of its ordinary shares for cancellation at an average price of 2,201.2726 pence per share. This transaction, executed through J.P. Morgan Securities plc, reduces the total number of ordinary shares in issue to 259,748,604, with 247,099,768 voting rights remaining. The repurchase is part of IMI’s strategy to manage its capital structure and potentially enhance 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.
The overall score of 72 reflects IMI plc’s strong technical indicators and robust financial performance. However, the potentially overvalued P/E ratio and questionable dividend yield temper the score. Continued share buybacks and positive market sentiment contribute positively to the outlook, although valuation concerns warrant caution.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
Average Trading Volume: 836,016
Technical Sentiment Signal: Buy
Current Market Cap: £5.4B
Find detailed analytics on IMI stock on TipRanks’ Stock Analysis page.