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The latest update is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC announced the repurchase and cancellation of 2,930 ordinary shares as part of its GBP 1.25 billion share repurchase programme. This transaction, conducted through Barclays Capital Securities Limited, reflects the company’s ongoing efforts to enhance shareholder value by reducing the number of shares in circulation, which now stands at 812,863,154. The repurchase aligns with the company’s strategy to manage its capital structure and improve earnings per share, potentially benefiting stakeholders by increasing the value of remaining shares.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £28.50 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 scores well due to strong financial performance and attractive valuation, bolstered by positive shareholder-focused corporate events. However, technical indicators are neutral, suggesting possible short-term caution.
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, cigars, and other tobacco-related products. The company is known for its strong market presence and commitment to shareholder returns.
Average Trading Volume: 2,374,187
Technical Sentiment Signal: Strong Buy
Current Market Cap: £23.09B
Learn more about IMB stock on TipRanks’ Stock Analysis page.