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The latest announcement is out from Imperial Brands ( (GB:IMB) ).
Imperial Brands PLC announced the repurchase and cancellation of 114,263 ordinary shares as part of its GBP 1.25 billion share repurchase programme. The transaction, executed through Barclays Capital Securities Limited, aims to reduce the number of shares in circulation, potentially enhancing shareholder value and adjusting the company’s capital structure. Following this transaction, the total number of ordinary shares in issue will be 803,965,265, which stakeholders can use for calculating their interests under regulatory guidelines.
The most recent analyst rating on (GB:IMB) stock is a Buy with a £3100.00 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 company operating in the tobacco industry, primarily focused on the manufacture and sale of tobacco products, including cigarettes and cigars. The company is known for its market presence in various regions, catering to a diverse consumer base.
Average Trading Volume: 1,807,674
Technical Sentiment Signal: Buy
Current Market Cap: £24.17B
Find detailed analytics on IMB stock on TipRanks’ Stock Analysis page.