Jefferies analyst Andrew Douglas maintained a Buy rating on IMI plc (IMI – Research Report) today and set a price target of p2,315.00.
Andrew Douglas has given his Buy rating due to a combination of factors including IMI plc’s strong first-quarter trading update, which despite a year-over-year decline in OCC sales, showed improved EBITA margins and a reaffirmation of the full-year EPS guidance. The management’s strategic review of the Transport business, which constitutes a smaller portion of the group’s sales, is seen as a proactive measure that could enhance future performance.
Additionally, the robust order intake and period-end order books, particularly in the PA segment, indicate a solid demand outlook. While there are some challenges such as the temporary impact of a cyber-attack and foreign exchange headwinds, the company’s overall financial health and strategic initiatives present a compelling investment opportunity. The shares are considered to be of good value, with the potential for the equity story to continue appealing to investors.
In another report released on April 25, Barclays also maintained a Buy rating on the stock with a £21.50 price target.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMI in relation to earlier this year.