Royal Bank of Canada Trims Imperial Brands (IMB) Target Price to GBX 2,300
Imperial Brands (LON:IMB) had its price objective trimmed by Royal Bank of Canada from GBX 2,400 ($31.36) to GBX 2,300 ($30.05) in a research report released on Wednesday morning. The firm currently has an underperform rating on the stock.
Several other research analysts also recently weighed in on IMB. JPMorgan Chase & Co. set a GBX 2,900 ($37.89) price target on shares of Imperial Brands and gave the stock a neutral rating in a research report on Tuesday, July 17th. Credit Suisse Group restated an outperform rating on shares of Imperial Brands in a research report on Thursday, August 23rd. Goldman Sachs Group set a GBX 2,920 ($38.15) price target on shares of Imperial Brands and gave the stock a neutral rating in a research report on Tuesday, September 4th. Deutsche Bank restated a buy rating on shares of Imperial Brands in a research report on Wednesday, September 12th. Finally, Morgan Stanley started coverage on shares of Imperial Brands in a research report on Tuesday, September 18th. They set an underweight rating and a GBX 2,755 ($36.00) price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of GBX 3,204.33 ($41.87).
Shares of Imperial Brands stock traded up GBX 56 ($0.73) during trading hours on Wednesday, reaching GBX 2,750 ($35.93). The stock had a trading volume of 3,996,681 shares, compared to its average volume of 2,680,000. Imperial Brands has a twelve month low of GBX 2,447 ($31.97) and a twelve month high of GBX 3,956.50 ($51.70).
In other Imperial Brands news, insider Oliver Tant acquired 5,386 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was bought at an average price of GBX 2,586 ($33.79) per share, with a total value of £139,281.96 ($181,996.55). Also, insider Simon Langelier acquired 225 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were acquired at an average cost of GBX 2,644 ($34.55) per share, with a total value of £5,949 ($7,773.42).
About Imperial Brands
Imperial Brands PLC, together with its subsidiaries, manufactures, markets, and sells tobacco and tobacco-related products. It offers cigarettes, fine cut tobacco, papers, and cigars; smokeless tobacco, including snus; and e-vapour products. The company sells its products under the growth brands, such as Davidoff, Gauloises Blondes, JPS, West, Fine, News, Winston, Bastos, Lambert & Butler, and Parker & Simpson; and specialist brands consisting of blu, Gitanes, Kool, Golden Virginia, Drum, Route 66, Cohiba, Montecristo, Romeo Y Julieta, Backwoods, Skruf, and Rizla in approximately 160 countries worldwide.
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