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Imperial Brands ( (GB:IMB) ) has issued an announcement.
Imperial Brands PLC announced the repurchase and cancellation of 228,924 of its ordinary shares as part of its GBP 1.25 billion share repurchase program. This transaction, conducted through Barclays Capital Securities Limited, is part of the company’s efforts to enhance shareholder value. Following this repurchase, the total number of ordinary shares in issue will be reduced to 806,283,729, which may impact shareholder calculations under the Disclosure Guidance and Transparency Rules.
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 operates in the tobacco industry, primarily focusing on the manufacture and sale of cigarettes, cigars, and other tobacco-related products. The company is known for its strong market presence and commitment to shareholder returns through strategic initiatives such as share repurchase programs.
Average Trading Volume: 1,728,030
Technical Sentiment Signal: Buy
Current Market Cap: £24.93B
Learn more about IMB stock on TipRanks’ Stock Analysis page.