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The latest announcement is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC has executed a share repurchase transaction, buying back 7,441 of its ordinary shares at an average price of GBp 2,953.8211 as part of its GBP 1.25 billion share repurchase program. This transaction, conducted through Barclays Capital Securities Limited, will result in the cancellation of these shares, reducing the total number of shares in issue to 804,240,069. This move is part of the company’s ongoing efforts to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £3100.00 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 and attractive valuation are the primary drivers of its score. The positive impact of the share repurchase program further enhances shareholder value. However, technical indicators suggest caution due to potential overbought conditions.
To see Spark’s full report on GB:IMB stock, click here.
More about Imperial Brands
Imperial Brands PLC operates within the tobacco industry, focusing primarily on the production and sale of tobacco products and related services. The company is known for its diverse portfolio of cigarette brands and other tobacco-related products, catering to a global market.
Average Trading Volume: 1,731,625
Technical Sentiment Signal: Buy
Current Market Cap: £24.01B
Learn more about IMB stock on TipRanks’ Stock Analysis page.