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Imperial Brands ( (GB:IMB) ) has provided an update.
Imperial Brands PLC announced the repurchase and cancellation of 350,000 of its ordinary shares as part of its GBP 1.25 billion share repurchase program. This transaction, executed through Barclays Capital Securities Limited, will reduce the total number of shares in issue to 807,366,296. The move is part of the company’s ongoing efforts to enhance shareholder value and optimize its capital structure, potentially impacting the company’s stock value and market perception.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £3402.00 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 cigarettes, cigars, and other tobacco-related products. The company is also involved in the development of next-generation products, such as e-cigarettes, to adapt to changing market demands and regulatory environments.
Average Trading Volume: 1,882,092
Technical Sentiment Signal: Buy
Current Market Cap: £25.18B
Learn more about IMB stock on TipRanks’ Stock Analysis page.