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The latest update is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC announced the repurchase and cancellation of 114,050 of its ordinary shares as part of its GBP 1.45 billion share repurchase program. This transaction, executed through Morgan Stanley, aims to reduce the number of shares in circulation, potentially increasing shareholder value and reflecting the company’s strategic financial management. The remaining number of ordinary shares in issue will be 798,960,299, which is relevant for stakeholders monitoring their shareholdings 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, including cigarettes, cigars, and smokeless tobacco. The company is known for its global market presence and commitment to reducing harm through next-generation products.
Average Trading Volume: 1,955,388
Technical Sentiment Signal: Buy
Current Market Cap: £25.89B
Learn more about IMB stock on TipRanks’ Stock Analysis page.