Imperial Brands (IMB) Given New GBX 2,300 Price Target at Royal Bank of Canada

Imperial Brands (LON:IMB) had its price objective lowered by equities research analysts at Royal Bank of Canada from GBX 2,400 ($31.36) to GBX 2,300 ($30.05) in a research note issued on Wednesday. The firm currently has an “underperform” rating on the stock. Royal Bank of Canada’s target price points to a potential downside of 13.14% from the stock’s current price.

Several other equities analysts have also recently weighed in on IMB. JPMorgan Chase & Co. set a GBX 2,900 ($37.89) target price on shares of Imperial Brands and gave the company a “neutral” rating in a research note on Tuesday, July 17th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Imperial Brands in a research note on Thursday, August 23rd. Goldman Sachs Group set a GBX 2,920 ($38.15) target price on shares of Imperial Brands and gave the company a “neutral” rating in a research note on Tuesday, September 4th. Deutsche Bank reaffirmed a “buy” rating on shares of Imperial Brands in a research note on Wednesday, September 12th. Finally, Morgan Stanley initiated coverage on shares of Imperial Brands in a research note on Tuesday, September 18th. They set an “underweight” rating and a GBX 2,755 ($36.00) target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of GBX 3,219.69 ($42.07).

IMB opened at GBX 2,648 ($34.60) on Wednesday. Imperial Brands has a fifty-two week low of GBX 2,447 ($31.97) and a fifty-two week 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 on Thursday, September 20th. The stock was acquired at an average cost 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 on Wednesday, September 12th. The stock was 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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Analyst Recommendations for Imperial Brands (LON:IMB)

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