Citi Reaffirms Their Buy Rating on Imperial Brands (IMB)

Citi analyst Simon Hales maintained a Buy rating on Imperial Brands yesterday and set a price target of £35.50.

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Hales covers the Consumer Defensive sector, focusing on stocks such as Diageo, British American Tobacco, and Altria Group. According to TipRanks, Hales has an average return of 3.6% and a 54.32% success rate on recommended stocks.

In addition to Citi, Imperial Brands also received a Buy from Barclays’s Pallav Mittal in a report issued yesterday. However, on the same day, UBS downgraded Imperial Brands (LSE: IMB) to a Hold.

Based on Imperial Brands’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of p10.32 billion and a net profit of p1.26 billion. In comparison, last year the company earned a revenue of p9.87 billion and had a net profit of p1.77 billion

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IMB in relation to earlier this year.