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IMI plc ( (GB:IMI) ) just unveiled an update.
IMI plc has announced the purchase and cancellation of 145,000 of its ordinary shares at an average price of 2,077.5485 pence per share. This transaction, conducted through J.P. Morgan Securities plc, reduces the total number of ordinary shares in issue to 261,663,635, with 249,014,799 voting rights remaining. 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 exhibits strong financial performance and positive corporate events, boosting investor confidence. However, technical indicators suggest overbought conditions, posing a potential short-term risk. Valuation is on the higher side, which may deter value-focused investors.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
Average Trading Volume: 811,858
Technical Sentiment Signal: Buy
Current Market Cap: £5.19B
Find detailed analytics on IMI stock on TipRanks’ Stock Analysis page.