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Imperial Brands ( (GB:IMB) ) just unveiled an update.
Imperial Brands PLC has announced the repurchase and cancellation of 462,196 of its ordinary shares as part of a GBP 1.45 billion share repurchase program. This transaction, conducted through Morgan Stanley on the London Stock Exchange, is part of the company’s efforts to manage its capital structure and potentially enhance shareholder value. Following this transaction, the total number of ordinary shares in issue will be reduced to 799,682,843, which will be used by shareholders for notification obligations under regulatory rules.
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, primarily focusing on the manufacture and sale of tobacco products and related services. The company is known for its portfolio of cigarette brands and has a significant presence in the global market.
Average Trading Volume: 1,922,992
Technical Sentiment Signal: Buy
Current Market Cap: £25.99B
Learn more about IMB stock on TipRanks’ Stock Analysis page.