Goldman Sachs Sticks to Its Buy Rating for Imperial Brands (IMB)

In a report released yesterday, Richard Felton from Goldman Sachs maintained a Buy rating on Imperial Brands, with a price target of p3,500.00. The company’s shares closed yesterday at p2,817.00.

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According to TipRanks, Felton is a 3-star analyst with an average return of 3.1% and a 52.34% success rate.

In addition to Goldman Sachs, Imperial Brands also received a Buy from Jefferies’s Andrei Andon Ionita in a report issued on May 13. However, on the same day, UBS maintained a Hold rating on Imperial Brands (LSE: IMB).

Based on Imperial Brands’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of p9.08 billion and a net profit of p475 million. In comparison, last year the company earned a revenue of p8.66 billion and had a net profit of p808 million

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.