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Prices & Quotes - UK Markets - IMI (IMI)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 1,040.00p
Change Today:
-26.00p
Market Cap:
2,831.04m
Sector:
Industrial Engineering

Berenberg ups rating on IMI to 'hold'

By Abigail Townsend

Date: Wednesday 09 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Berenberg has upgraded its rating on IMI, arguing that market expectations for the British engineering group are too conservative.

In a note published on Wednesday, the bank said it had identified three core reasons for adopting a more positive stance, which has seen it increase its recommendation to 'hold' from 'sell'.

As well having increased confidence in the group's ability to retain costs savings, Berenberg said: "We believe market expectations for the full-year appear conservative and we sit 3% ahead of consensus earnings per share, and we support the shift in capital allocation to rebase the dividend and enable a higher rate of reinvestment in order to drive growth."

It did, however, sound a note of caution, arguing that following an 80% re-rating of the shares over the past six months, and "with lingering concerns about the longer-term growth prospects", there was better value elsewhere.

"It is rare to see a coordinated recovery across all three of IMI's divisions, with an upturn in one end market often cancelled out by challenges in another," it added.

Berenberg also upped its price target for the FTSE 250 firm, to 995p from 635p. As at 1415, shares in IMI were flat at 1,068p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

IMI Market Data

Currency UK Pounds
Price 1,040.00p
Change Today -26.00p
52 Week High 1,206.00p
52 Week Low 674.80p
Volume 778,439
Shares Issued 272.22m
Market Cap 2,831.04m

Performance Indicators

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EPS Growth
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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 8
Sell 1
Strong Sell 0
Total 18
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IMI Dividends

  Latest Previous
  2nd Interim 1st Interim
Ex-Div 06-Aug-20 06-Aug-20
Paid 11-Sep-20 11-Sep-20
Amount 7.50p 26.20p

Trades for 28-Oct-2020

Time Volume / Share Price
17:09 2,000 @ 1,040.00p
16:35 388,809 @ 1,040.00p
16:29 29 @ 1,045.00p
16:29 30 @ 1,045.00p
16:29 4 @ 1,045.00p

IMI Key Personnel

CEO Roy Twite
Finance Director Daniel Shook
Chair Smith of Kelvin