IMBBY - Imperial Brands: Betting On The Smaller & Focused Tobacco Stock
2024-07-20 10:00:00 ET
Summary
- IMMBY has proven that a smaller and focused market strategy allows it to survive the uncertain secular tobacco decline and slower New Generation Product monetization.
- Given its ability to grow tobacco share in priority markets while expanding profitability, the management has been able to return great value to long-term shareholders through share repurchases/ dividends.
- Combined with IMBBY's inherent undervaluation compared to its peers/ historical means, we believe that opportunistic investors may look forward to further capital appreciation ahead.
The Tobacco Investment Thesis Remains Robust In IMBBY
We previously covered British American Tobacco p.l.c. ( BTI ), Altria ( MO ), and Philip Morris ( PM ), discussing their combustible and alternative tobacco offerings during the secular tobacco use decline....
Imperial Brands: Betting On The Smaller & Focused Tobacco Stock