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Imperial Brands ( (GB:IMB) ) has provided an update.
Imperial Brands PLC has repurchased 139,329 of its ordinary shares as part of a GBP 1.45 billion share repurchase program, with the intention to cancel these shares. This transaction, conducted through Morgan Stanley on the London Stock Exchange, reduces the total number of shares in issue to 803,172,884, potentially impacting shareholder calculations under the Disclosure Guidance and Transparency Rules.
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 in the tobacco industry, primarily focusing on the manufacturing and sale of tobacco products, including cigarettes, cigars, and smokeless tobacco. The company is a significant player in the global market, aiming to maintain its competitive edge through strategic initiatives such as share repurchase programs.
Average Trading Volume: 1,798,749
Technical Sentiment Signal: Buy
Current Market Cap: £24.56B
Find detailed analytics on IMB stock on TipRanks’ Stock Analysis page.