The stock of Imperial Brands PLC (LON:IMB) gapped up by GBX 5 today and has GBX 3761.37 target or 7.00% above today’s GBX 3515.30 share price. The 6 months technical chart setup indicates low risk for the GBX 33.70B company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 3761.37 price target is reached, the company will be worth GBX 2.36B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 0.99% or GBX 34.3 on November 23, hitting GBX 3515.3. About 2.72 million shares traded hands. Imperial Brands PLC (LON:IMB) has declined 4.27% since April 27, 2016 and is downtrending. It has underperformed by 9.60% the S&P500.
Imperial Brands PLC (LON:IMB) Ratings Coverage
Out of 16 analysts covering Imperial Brands (LON:IMB), 12 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 75% are positive. GBX 4800 is the highest target while GBX 2700 is the lowest. The GBX 4104 average target is 16.75% above today’s (GBX 3515.3) stock price. Imperial Brands has been the topic of 80 analyst reports since February 2, 2016 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Wednesday, September 21 by Credit Suisse. The rating was maintained by Deutsche Bank with “Buy” on Tuesday, July 19. The firm earned “Outperform” rating on Tuesday, February 16 by Credit Suisse. On Tuesday, August 2 the stock rating was maintained by Societe Generale with “Buy”. The stock of Imperial Brands PLC (LON:IMB) earned “Neutral” rating by JP Morgan on Wednesday, June 29. As per Thursday, February 11, the company rating was maintained by Canaccord Genuity. Barclays Capital maintained the stock with “Overweight” rating in Monday, July 11 report. The stock of Imperial Brands PLC (LON:IMB) earned “Buy” rating by Citigroup on Friday, February 12. The firm has “Buy” rating by Deutsche Bank given on Friday, September 9. Deutsche Bank maintained it with “Buy” rating and GBX 4000 target price in Friday, February 5 report.
More notable recent Imperial Brands PLC (LON:IMB) news were published by: Bloomberg.com which released: “Imperial to Drop `Tobacco’ After 115 Years in Re-Branding” on December 15, 2015, also Moodys.com with their article: “Moody’s changes the outlook on Imperial Brands to stable; ratings affirmed” published on May 19, 2016, Marketwatch.com published: “Imperial Brands down 2.1% after financial results” on February 11, 2016. More interesting news about Imperial Brands PLC (LON:IMB) were released by: Fool.Co.Uk and their article: “Should you buy Neil Woodford’s top 3 holdings Imperial Brands plc, AstraZeneca …” published on June 27, 2016 as well as Fool.Co.Uk‘s news article titled: “3 Brexit-proof stocks? ARM Holdings plc, Imperial Brands plc and Reckitt …” with publication date: June 28, 2016.
Imperial Brands PLC, formerly Imperial Tobacco Group PLC, is a fast-moving consumer goods company. The company has a market cap of 33.70 billion GBP. The Firm focuses on tobacco portfolio that offers a range of cigarettes, fine cut and smokeless tobaccos, and papers and cigars. It has a 53.3 P/E ratio. The Company’s divisions are Returns Markets North, Returns Markets South, Growth Markets , USA and Logistics.
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