Report
Philip Gorham, CFA, FRM

Imperial Building Momentum But Must Now Deliver Pricing if Huge Upside is to Be Realized

The 5% rally in Imperial Brand's stock following a solid mid-fiscal year report will be scant consolation for shareholders that have owned Imperial as it has underperformed even the out-of-favour tobacco category since the turn of the year. Nevertheless, the company's update confirmed that the worst of its struggles are behind it, market share is growing, price/mix is rebounding strongly, combustible volumes are stabilizing, the vaping pipeline is strong, cash conversion is impressive, the divid...
Underlying
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Philip Gorham, CFA, FRM

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