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Imperial Brands ( (GB:IMB) ) has shared an announcement.
Imperial Brands PLC has announced the repurchase and cancellation of 197,717 of its ordinary shares as part of a GBP 1.45 billion share repurchase program. This transaction, executed through Morgan Stanley on the London Stock Exchange, is part of the company’s ongoing efforts to manage its capital structure and enhance shareholder value. The cancellation of these shares will reduce the total number of shares in issue to 802,112,990, which is relevant for shareholders and stakeholders in determining their interest in the company.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £36.50 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 in the tobacco industry, primarily focusing on the manufacture and sale of cigarettes, cigars, and other tobacco-related products. The company is known for its market presence in both traditional tobacco products and next-generation products, aiming to cater to a diverse range of consumer preferences.
Average Trading Volume: 1,903,753
Technical Sentiment Signal: Buy
Current Market Cap: £25.91B
See more data about IMB stock on TipRanks’ Stock Analysis page.