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Imperial Brands Price Target Raised at Citi Ahead of Final Results

Sam Boughedda trader
Updated 14 Nov 2022

Imperial Brands (LON: IMB) will post its final results for the 12 months ended September 30 on Tuesday, November 15.


The tobacco company, headquartered in Bristol, England, has seen its shares rise over 25% so far in 2022, despite a 2.79% decline on Thursday and a further 4.75% fall on Friday. 

Imperial Brands is expected to continue its move toward new products, such as vaporizers, which are expected to generate an increasing amount of its revenue. The company said in a trading statement in early October that  there had been “good progress” with its next-generation product launches, supporting “further market roll-outs.”

In addition, it told investors it has been working well on implementing its refreshed next-generation product strategy, with  further share gains made with Pulze and iD, its heated tobacco offering, in Greece and the Czech Republic

Overall, Imperial Brands told investors in its trading update that trading was in line with expectations, and they see full-year net revenue and adjusted operating profit to grow by around 1% at constant currency

Ahead of the release of its final results, Citi analyst Adam Spielman increased the firm's price target on Imperial Brands to 2,300p, reiterating a Neutral rating on the shares.

Elsewhere, at the end of September, Credit Suisse analyst Eamonn Ferry assumed coverage of Imperial Brands with an Outperform rating, raising the firm’s price target on the stock to 2,550p from 2,300p. The analyst told investors in a note at the time that Imperial Brands’ new Tobacco Model indicated future global profit growth prospects in combustibles. He added that he believes  Imperial's new management team will be able to avoid the frequent missteps of the past.

According to TipRanks, out of nine analysts, seven have Buy ratings, and two have a Hold rating on Imperial Brands shares, with the average price target at 2,336.11p.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.