Imperial Brands stock at 35.16 euros before Nov. 17 results

Published on 11/12/2026 at 13:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Imperial Brands stock faces a near-term test on November 17. Morningstar calls the shares moderately undervalued.

Imperial Brands before full-year results

Imperial Brands is due to report fiscal 2026 full-year results on November 17.
Morningstar says the tobacco group remains moderately undervalued after reaffirming its profit outlook.
The company completed a GBP 1.45 billion buyback and announced a further GBP 1.5 billion program for fiscal 2027.

Imperial Brands, GB0004544929, Illustration mit AI erstellt.

Imperial Brands stock traded at 35.16 euros on Lang & Schwarz at 12:53 CET on Thursday, November 12, 2026.

Morningstar said in an analysis published on October 13 that Imperial Brands had reaffirmed its fiscal 2026 outlook. The Morningstar analysis described the shares as moderately undervalued and retained a fair value estimate of GBP 34.

Guidance points to second half

Imperial Brands guided toward low-single-digit net revenue growth in tobacco and double-digit growth in next-generation products. The company also reaffirmed guidance for 3% to 5% adjusted operating profit growth and high-single-digit adjusted earnings-per-share growth.

Morningstar said the group had reported second-half share gains in target segments in the United States and Germany. The analyst noted that adjusted operating profit had grown by 0.6% in the first half, leaving the full-year target dependent on stronger performance in the second half.

Results set the next test

Imperial Brands is scheduled to publish its fiscal 2026 full-year results on November 17. The release should give investors an update on market-share trends, next-generation products and the group's fiscal 2027 outlook.

The company completed a GBP 1.45 billion share repurchase for fiscal 2026 and announced a further GBP 1.5 billion program for fiscal 2027. The capital-return plans remain an important part of the investment case, while tobacco volume pressure and operating losses in newer categories remain central risks.