Imperial Brands (IMB) Receives a Buy from Jefferies

Jefferies analyst Ed Mundy reiterated a Buy rating on Imperial Brands yesterday and set a price target of p3,600.00. The company’s shares opened today at p3,125.00.

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According to TipRanks, Mundy is an analyst with an average return of -0.2% and a 43.10% success rate. Mundy covers the Consumer Defensive sector, focusing on stocks such as Diageo, Pernod Ricard, and Fevertree Drinks.

Imperial Brands has an analyst consensus of Strong Buy, with a price target consensus of p3,520.40, which is a 12.65% upside from current levels. In a report released yesterday, UBS also maintained a Buy rating on the stock with a £36.00 price target.

Based on Imperial Brands’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of p4.33 billion and a net profit of p404 million. In comparison, last year the company earned a revenue of p17.23 billion and had a net profit of p1.69 billion

Based on the recent corporate insider activity of 44 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.