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Imperial Brands ( (GB:IMB) ) has shared an update.
Imperial Brands PLC has executed a share repurchase transaction, acquiring 428,728 of its ordinary shares for cancellation as part of its GBP 1.45 billion buyback program. This move, facilitated by Morgan Stanley, is expected to reduce the total number of shares in circulation to 800,506,287, potentially impacting shareholder calculations under regulatory guidelines.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £3200.00 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 manufacture and sale of tobacco products. The company is known for its range of cigarettes, cigars, and smokeless tobacco products, catering to a global market.
Average Trading Volume: 1,942,433
Technical Sentiment Signal: Buy
Current Market Cap: £25.6B
See more insights into IMB stock on TipRanks’ Stock Analysis page.