The consensus Price Target for Imperial Brands rose marginally to £32.60, primarily reflecting a higher future P/E multiple, with the overall fair value change remaining minimal.
What's in the News
- The FDA has approved Juul Labs' original vaporizer and specific refill cartridges to remain on the U.S. market, which could have competitive implications for Imperial Brands and other major tobacco companies (Wall Street Journal).
- The decision keeps Juul as a significant player in the U.S. next-generation products (NGP) market alongside Imperial Brands, Altria Group, British American Tobacco, and Philip Morris (Wall Street Journal).
- Imperial Brands is actively seeking bolt-on acquisitions, particularly in the next-generation products (NGP) segment, to complement its primarily organic growth strategy (Key Developments).
- The company aims to expand in established NGP markets where it already has a route to market and is positioned as the fourth largest player, leveraging acquisitions to drive growth (Key Developments).
- Imperial Brands' acquisition strategy focuses on enhancing innovation in reduced harm products, targeting established markets to accelerate consumer adoption and company growth (Key Developments).
Valuation Changes
Summary of Valuation Changes for Imperial Brands
- The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from £32.23 to £32.60.
- The Future P/E for Imperial Brands has risen from 12.72x to 13.53x.
- The Discount Rate for Imperial Brands remained effectively unchanged, moving only marginally from 8.38% to 8.49%.
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