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The latest update is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC announced the repurchase and cancellation of 70,000 of its ordinary shares as part of its GBP 1.25 billion share repurchase program. This transaction, executed through Barclays Capital Securities Limited, aims to reduce the number of shares in circulation, potentially enhancing shareholder value and adjusting market positioning. Following this transaction, the total number of ordinary shares in issue will be 807,930,510, which stakeholders can use for disclosure and transparency calculations.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £36.50 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 is a major player in the tobacco industry, primarily engaged in the manufacture and sale of cigarettes, tobacco, and other nicotine-related products. The company focuses on maintaining a strong market presence in the global tobacco sector.
Average Trading Volume: 1,791,956
Technical Sentiment Signal: Buy
Current Market Cap: £24.9B
For an in-depth examination of IMB stock, go to TipRanks’ Overview page.