Jefferies cuts target to GBp 2,700 for Imperial Brands stock
Published on 10/20/2026 at 12:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst pressure and dates
- Jefferies changed its Imperial Brands rating to Hold on October 19, 2026, and cut the target to GBp 2,700.00.
- Imperial Brands expects adjusted operating profit growth of 3.00 to 5.00 percent for fiscal year 2026.
- Imperial Brands stock traded at EUR 33.72 at 12:29 p.m. CEST at Lang & Schwarz on October 20, 2026, 0.21 percent above the Xetra close of October 19, 2026.
- Imperial Brands will announce annual results on November 17, 2026.
Imperial Brands (GB0004544929) traded at EUR 33.72 at Lang & Schwarz on October 20, 2026 at 12:29 p.m. CEST, up 0.21 percent versus the Xetra close of October 19, 2026 at EUR 33.65. The more important signal came from Jefferies, which cut its rating and price target after concerns about German tobacco taxation.
Jefferies cuts target to GBp 2,700
On October 19, 2026, AskTraders reported that Jefferies downgraded Imperial Brands from Buy to Hold and reduced its target from GBp 3,500.00 to GBp 2,700.00. The report linked the move to Germany's planned tobacco tax increases from 2027 through 2030.
The revised target is 4.38 percent below the October 19, 2026 London closing price of GBp 2,826.00 cited by AskTraders. Jefferies also lowered its 2027 operating profit growth forecast to 1.40 percent from 2.70 percent, compared with 3.50 percent consensus in the report.
Three events set the context
On October 8, 2026, Imperial Brands reaffirmed adjusted operating profit growth of 3.00 to 5.00 percent and announced a GBP 1.5 billion fiscal 2027 buyback. On October 16, 2026, Investegate reported that Capital Group's holding reached 12.03 percent, representing 91,173,407 shares. On October 19, 2026, the Jefferies downgrade completed the sequence with a GBp 800.00 target reduction.
What comes next for investors?
The next scheduled date is November 17, 2026, when Imperial Brands will announce annual results for the year ended September 30, 2026. The same release sets October 29, 2027 as the latest completion date for the GBP 1.5 billion buyback.
Price holds near the Xetra close
Imperial Brands stock was trading at EUR 33.72 at Lang & Schwarz on October 20, 2026 at 12:29 p.m. CEST, 0.21 percent above the Xetra close of October 19, 2026 at EUR 33.65. The modest euro move leaves the Jefferies target revision and the November results date as the clearest near-term reference points.
The further course of trading is shown by the continuously updated real-time quote of Imperial Brands stock.
Imperial Brands stock facts
- Company: Imperial Brands PLC
- ISIN: GB0004544929
- Ticker: IMB.L
- Primary exchange: London Stock Exchange
- Price Lang & Schwarz (as of October 20, 2026, 12:29 p.m. CEST): EUR 33.72
- Change versus Xetra close: plus 0.21 percent
- Xetra close (October 19, 2026): EUR 33.65
- Market capitalization: GBP 21.2 billion (as of October 20, 2026)
- 52-week range: GBp 2,408.00-3,632.04 (as of October 20, 2026)
- Sector / Industry: Consumer Defensive / Tobacco
- Index membership: FTSE 100
- Next earnings date: November 17, 2026
Market context: Market report FTSE 100.
