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IMI plc ( (GB:IMI) ) has shared an announcement.
IMI plc announced the repurchase of 121,034 of its ordinary shares through J.P. Morgan Securities plc, at an average price of 2,038.9547 pence per share, for cancellation. This transaction reduces the total number of ordinary shares in issue to 261,397,804, with 12,648,836 shares held in treasury, impacting the total number of voting rights to 248,748,968. The share buyback program reflects the company’s ongoing efforts 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.
IMI plc’s overall stock score is driven by its strong financial performance and effective corporate actions like share buybacks. While the technical analysis shows positive momentum, the valuation suggests the stock may be overvalued. The absence of recent earnings call data does not impact the score significantly.
To see Spark’s full report on GB:IMI stock, click here.
More about IMI plc
Average Trading Volume: 818,632
Technical Sentiment Signal: Buy
Current Market Cap: £5.1B
For an in-depth examination of IMI stock, go to TipRanks’ Overview page.