Jefferies Sticks to Its Buy Rating for Imperial Brands (IMB)

In a report released yesterday, Andrei Andon Ionita from Jefferies reiterated a Buy rating on Imperial Brands, with a price target of p3,500.00. The company’s shares closed yesterday at p2,769.00.

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According to TipRanks, Andon Ionita is a 2-star analyst with an average return of 0.7% and a 59.09% success rate. Andon Ionita covers the Consumer Defensive sector, focusing on stocks such as Imperial Brands, British American Tobacco, and Japan Tobacco.

Currently, the analyst consensus on Imperial Brands is a Moderate Buy with an average price target of p3,327.78, implying a 20.18% upside from current levels. In a report released yesterday, Barclays also maintained a Buy rating on the stock with a £36.50 price target.

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 positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IMB in relation to earlier this year.