Morgan Stanley analyst Rashad Kawan upgraded Imperial Brands to Overweight from Equal Weight with a 2,300 GBp price target The firm says the company is set to buy back about 25% of its market cap over the next three years. Imperial Brands’ buyback capability is greater than at British American Tobacco, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IMBBY:
- Imperial Brands price target raised to 2,620 GBp from 2,400 GBp at Barclays