Imperial Brands Wins Fresh Analyst Backing Ahead of Full-Year Results
Published on 10/10/2026 at 17:41 | Editorial boerse-global.de
Imperial Brands has secured a pair of reaffirmed buy ratings from two major investment houses, giving the British tobacco group fresh momentum as it prepares to unveil its complete fiscal 2026 results on 17 November 2026.
Barclays restated its bullish stance on Wednesday, attaching a price target of 34.00 GBP to the stock. A day earlier, Jefferies had done the same, keeping its "Buy" rating and a 3,500 pence target unchanged. Both brokers pointed to the company's dependable shareholder return policy — underpinned by a steady stream of buybacks — as a key pillar of their confidence.
Management Guidance Reiterated
The analysts' optimism rests on figures management released on Thursday, when Imperial Brands confirmed its outlook for the 2026 financial year. Adjusted operating profit is expected to grow between 3% and 5%, while adjusted earnings per share are targeted to rise in the high single-digit percentage range.
Revenue expectations were broken down by segment: net sales of traditional tobacco products should expand at a low single-digit rate, whereas the next-generation products (NGP) division is forecast to deliver double-digit net revenue growth.
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Cash generation remains a central part of the story. The company projects free cash flow exceeding GBP 2.2 billion for the full year, a level of liquidity that comfortably funds both ongoing dividend payments and substantial returns of capital to shareholders.
Buyback Plans Take Shape
That financial firepower has already translated into action. Imperial Brands completed its fiscal 2026 repurchase programme, worth GBP 1.45 billion, on schedule — and on Thursday announced a successor scheme of GBP 1.5 billion for fiscal 2027. HSBC will handle the first tranche of up to GBP 750 million, with the entire programme slated for completion no later than 29 October 2027.
Directors have also been adding to their holdings. On Monday, non-executive directors Susan Clark and Ngozi Edozien acquired additional shares through an automatic dividend reinvestment at a price of 24.597320 GBP per share.
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Shares Recover From 52-Week Low
The combination of capital returns and steady operational targets has helped the stock regain its footing. Imperial Brands closed Friday's session at EUR 31.65, up 1.3% on the day and 9.6% over a seven-day stretch. The shares now sit 12% above their 52-week low, though they remain down 12% since the start of the year.
Whether that rebound has legs will likely hinge on the detailed figures management presents in mid-November.
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