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The latest announcement is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC announced the repurchase and cancellation of 111,571 ordinary shares as part of its GBP 1.45 billion share repurchase program. This transaction, executed through Morgan Stanley, reflects the company’s strategy to manage its share capital and potentially enhance shareholder value. Following this transaction, the total number of ordinary shares in issue will be reduced to 802,570,712, which stakeholders can use for calculating their interests under regulatory requirements.
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, 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: 1,892,781
Technical Sentiment Signal: Buy
Current Market Cap: £25.45B
For a thorough assessment of IMB stock, go to TipRanks’ Stock Analysis page.