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IMI plc ( (GB:IMI) ) has provided an announcement.
IMI plc announced the repurchase of 120,741 of its ordinary shares for cancellation at an average price of 2,097.0174 pence per share, as part of its ongoing share buyback program. This transaction, conducted through J.P. Morgan Securities plc, aims to reduce the number of shares in circulation, thereby potentially increasing the value of remaining shares and enhancing shareholder value.
The most recent analyst rating on (GB:IMI) stock is a Buy with a £2315.00 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 overall stock score reflects a strong financial foundation supported by positive technical trends and strategic corporate actions. While valuation metrics are moderate, the company’s proactive buyback strategy enhances shareholder value and indicates confidence in future prospects.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
IMI plc operates in the engineering industry, focusing on the design and manufacture of fluid control systems and components. The company serves various sectors, including energy, transportation, and industrial automation, providing solutions that enhance efficiency and performance.
Average Trading Volume: 836,959
Technical Sentiment Signal: Buy
Current Market Cap: £5.24B
Learn more about IMI stock on TipRanks’ Stock Analysis page.