Berenberg Bank Lowers Imperial Brands (IMB) Price Target to GBX 3,765
Imperial Brands (LON:IMB) had its price target reduced by research analysts at Berenberg Bank from GBX 3,780 ($50.87) to GBX 3,765 ($50.67) in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 23.24% from the stock’s previous close.
Several other research firms have also recently issued reports on IMB. Whitman Howard restated a “buy” rating and set a GBX 5,100 ($68.64) price objective on shares of Imperial Brands in a report on Friday, September 15th. Credit Suisse Group restated an “outperform” rating and set a GBX 4,150 ($55.85) price objective on shares of Imperial Brands in a report on Monday, September 11th. Barclays set a GBX 4,300 ($57.87) price objective on Imperial Brands and gave the stock a “buy” rating in a report on Wednesday, September 6th. Jefferies Group decreased their price objective on Imperial Brands from GBX 4,200 ($56.53) to GBX 4,100 ($55.18) and set a “buy” rating on the stock in a report on Wednesday, September 6th. Finally, Deutsche Bank set a GBX 4,100 ($55.18) price objective on Imperial Brands and gave the stock a “buy” rating in a report on Wednesday, August 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Imperial Brands has a consensus rating of “Buy” and an average target price of GBX 3,870.63 ($52.09).
Shares of Imperial Brands (IMB) opened at GBX 3,055 ($41.12) on Wednesday. Imperial Brands has a fifty-two week low of GBX 3,013 ($40.55) and a fifty-two week high of GBX 3,956.50 ($53.25).
Imperial Brands (LON:IMB) last posted its quarterly earnings data on Tuesday, November 7th. The company reported GBX 267 ($3.59) earnings per share (EPS) for the quarter, topping the consensus estimate of GBX 264.40 ($3.56) by GBX 2.60 ($0.03). Imperial Brands had a return on equity of 26.82% and a net margin of 4.75%. The business had revenue of GBX 3,024.70 billion for the quarter.
In related news, insider Simon Langelier acquired 31 shares of the business’s stock in a transaction on Monday, September 18th. The shares were bought at an average cost of GBX 3,258 ($43.85) per share, with a total value of £1,009.98 ($1,359.33).
Imperial Brands Company Profile
Imperial Brands PLC, formerly Imperial Tobacco Group PLC, is a fast-moving consumer goods company. The Company offers a range of cigarettes, fine cut and smokeless tobaccos, papers and cigars. The Company’s segments include Growth Markets, USA, Returns Markets North, Returns Markets South and Logistics.
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