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The latest update is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC announced the repurchase of 60,000 ordinary shares as part of its GBP 1.25 billion share repurchase program. The shares were bought at an average price of GBp 2,861.9777 and will be cancelled, reducing the total number of shares in issue to 814,035,413. This move is part of the company’s effort to enhance shareholder value and optimize its capital structure.
The most recent analyst rating on (GB:IMB) stock is a Hold with a £2400.00 price target. To see the full list of analyst forecasts on Imperial Brands stock, see the GB:IMB Stock Forecast page.
Spark’s Take on GB:IMB Stock
According to Spark, TipRanks’ AI Analyst, GB:IMB is a Outperform.
Imperial Brands’ strong financial performance, coupled with its undervalued valuation and strategic share buyback program, positions it favorably in the market. The technical indicators suggest mild bullish momentum, enhancing its attractiveness. The absence of earnings call data slightly limits insights into future guidance.
To see Spark’s full report on GB:IMB stock, click here.
More about Imperial Brands
Imperial Brands PLC operates in the tobacco industry, focusing on the manufacture and sale of cigarettes, tobacco, and other nicotine-related products. The company is a major player in the global market, catering to a wide range of consumers with its diverse product portfolio.
Average Trading Volume: 2,529,579
Technical Sentiment Signal: Buy
Current Market Cap: £22.95B
See more data about IMB stock on TipRanks’ Stock Analysis page.