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.
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- Imperial Brands price target raised to 2,620 GBp from 2,400 GBp at Barclays
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