Imperial Brands (LON:IMB) had its price target reduced by Royal Bank of Canada from GBX 2,400 ($31.36) to GBX 2,300 ($30.05) in a research note published on Wednesday. Royal Bank of Canada currently has an underperform rating on the stock.
Other equities analysts have also issued reports about the stock. Deutsche Bank reaffirmed a buy rating on shares of Imperial Brands in a report on Wednesday, September 12th. Liberum Capital reaffirmed a buy rating on shares of Imperial Brands in a report on Tuesday, September 25th. Sanford C. Bernstein set a GBX 2,990 ($39.07) price target on shares of Imperial Brands and gave the stock a buy rating in a report on Tuesday, October 16th. Jefferies Financial Group lifted their price target on shares of Imperial Brands from GBX 3,600 ($47.04) to GBX 3,800 ($49.65) and gave the stock a buy rating in a report on Wednesday, October 17th. Finally, Citigroup cut their price target on shares of Imperial Brands from GBX 2,900 ($37.89) to GBX 2,700 ($35.28) and set a neutral rating on the stock in a report on Thursday, September 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. Imperial Brands currently has an average rating of Hold and an average target price of GBX 3,204.33 ($41.87).
IMB stock traded up GBX 56 ($0.73) during trading on Wednesday, hitting GBX 2,750 ($35.93). 3,996,681 shares of the company’s stock traded hands, compared to its average volume of 2,680,000. Imperial Brands has a 1 year low of GBX 2,447 ($31.97) and a 1 year high of GBX 3,956.50 ($51.70).
In other Imperial Brands news, insider Simon Langelier bought 225 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was bought at an average cost of GBX 2,644 ($34.55) per share, for a total transaction of £5,949 ($7,773.42). Also, insider Oliver Tant bought 5,386 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were acquired at an average price of GBX 2,586 ($33.79) per share, with a total value of £139,281.96 ($181,996.55).
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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