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Imperial Brands ( (GB:IMB) ) has shared an update.
Imperial Brands PLC announced the repurchase and cancellation of 214,880 ordinary shares as part of its GBP 1.45 billion share repurchase program. This transaction, executed through Morgan Stanley, is part of the company’s strategy to manage its share capital and enhance shareholder value, reducing the total number of shares in issue to 798,691,360.
The most recent analyst rating on (GB:IMB) stock is a Hold with a £2700.00 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 in the tobacco industry, focusing on the production and sale of tobacco products and related services. The company is known for its wide range of tobacco brands and has a significant market presence globally.
Average Trading Volume: 1,950,251
Technical Sentiment Signal: Buy
Current Market Cap: £26.36B
See more insights into IMB stock on TipRanks’ Stock Analysis page.