Morgan Stanley Downgrades Imperial Brands Target Price

Business by 2FIRSTS.ai

Nov.24.2023

Morgan Stanley Downgrades Imperial Brands Target Price

JP Morgan has lowered its price target for Imperial Brands (LON:IMB) from $29.40 to $28.15, maintaining a hold rating.

According to a report by MarketBeat, JP Morgan has lowered its price target for Imperial Brands (LON:IMB) from $29.40 to $28.15 in a report released on Monday. The company currently has a buy rating on the stock.

References:

[1] JPMorgan Chase & Co. Cuts Imperial Brands (LON:IMB) Price Target to GBX 2,250

Also Read:

[1] Imperial Brands Reports Strong Annual Performance in FY2023

[2] Imperial Brands Faces Pressure to Further Cut Dividends

#Europe #Traditional tobacco #United Kingdom #Market #Imperial Brands #Brands

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

China Tobacco Regulation Shift：Policy Updates and Market Impact

China Tobacco Regulation Shift：Policy Updates and Market Impact

AIR Global Starts Debt Refinancing Four Months After Nasdaq Listing With About $400 Million Notes Expected

AIR Global Starts Debt Refinancing Four Months After Nasdaq Listing With About $400 Million Notes Expected

AIR Limited, a wholly owned subsidiary of AIR Global, has launched an offering of U.S. dollar-denominated senior unsecured notes, with proceeds primarily intended to repay its existing term loan and revolving credit facility. AIR has not disclosed the final size, maturity or coupon; Refinitiv, citing Moody's, reported an expected issuance of approximately $400 million and a Ba3 rating. AIR had about $412.4 million outstanding under the two bank facilities at June 30 and net debt of $344.8 million. In the first half of 2026, AIR's Al Fakher-led flavored shisha molasses business generated about 99% of company revenue, while New Growth Categories including Crown Switch produced $2.2 million in revenue and remained loss-making on an adjusted EBITDA basis.

2Firsts On-Site | CTIHK Showcases Nicotine Pouches, Heated Tobacco and Chinese Cigars at InterTabac 2026

2Firsts On-Site | CTIHK Showcases Nicotine Pouches, Heated Tobacco and Chinese Cigars at InterTabac 2026

At InterTabac 2026 in Dortmund, China Tobacco International (HK) Company Limited (CTIHK) is exhibiting across two separate booths in Hall 5 and Hall 4. Products observed by 2Firsts include heated tobacco products, nicotine pouches, Chinese cigars and tobacco leaf. Nicotine pouch products on display include TOOP, Shuangxi and Ashima.

As Regulators Focus on Nicotine Pouch Child Safety, Safeguard Pursues an External Packaging Route

As Regulators Focus on Nicotine Pouch Child Safety, Safeguard Pursues an External Packaging Route

As regulators pay closer attention to child safety in nicotine pouches, manufacturers face a practical challenge: how to strengthen child-resistant packaging without unnecessarily reworking products, production lines and regulatory submissions already in place. In a written interview with 2Firsts, Chemular detailed Safeguard’s external packaging approach, its customer-specific testing requirements and possible PMTA pathways. The model remains early-stage, but it offers a new way to think about an increasingly important regulatory and manufacturing issue.

Industry Insight

PMI Expands U.S. ZYN Portfolio With New 1.5 mg and 8 mg Strengths, Moves Toward a Unified 20-Pouch-Per-Can Format

PMI Expands U.S. ZYN Portfolio With New 1.5 mg and 8 mg Strengths, Moves Toward a Unified 20-Pouch-Per-Can Format

Philip Morris International is expanding its U.S. ZYN nicotine pouch portfolio with new 1.5 mg and 8 mg strengths and plans to move its core 3 mg and 6 mg dry-pouch products from 15 to 20 pouches per can in the fourth quarter of 2026. ZYN ULTRA is also commercially available, with FDA authorization covering 10 products at 9 mg and one 11 mg Smooth product. PMI U.S. lists the new 1.5 mg and 8 mg strengths as commercially available, but as of September 10 they do not appear on the FDA’s public authorization list. Public materials do not identify which PMTA submissions cover the two new strengths or their current review status.

Malaysia Liquid Nicotine Returns to Poisons List, Leaving Vape Retail and RM354 Million Tax Collection in Legal Uncertainty

Malaysia Liquid Nicotine Returns to Poisons List, Leaving Vape Retail and RM354 Million Tax Collection in Legal Uncertainty

Malaysia’s withdrawal of its appeal in a landmark liquid-nicotine case has left a High Court ruling that struck down the 2023 nicotine exemption in force, bringing liquid and gel nicotine used in vaping products back under the Poisons Act 1952. At the same time, the Control of Smoking Products for Public Health Act 2024 continues to provide a regulatory framework for vaping products, creating uncertainty over retail sales, taxation and existing inventory. MPs are calling for nicotine vape sales and excise collection to stop, including refunds of more than RM354 million collected since 2023, while industry and consumer groups are asking the government to clarify the current legal position.

Philippines Weighs Unified Vape Tax as Lawmakers Back Risk-Based Rates and Government Seeks to Fill ₱66 Billion Revenue Gap

Philippines Weighs Unified Vape Tax as Lawmakers Back Risk-Based Rates and Government Seeks to Fill ₱66 Billion Revenue Gap

Philippine lawmakers are considering an overhaul of the country's vape excise-tax regime to eliminate the wide gap between taxes on nicotine salt and freebase nicotine liquids and reduce incentives for misdeclaration. House Bill 5364, filed by Rep. Rufus Rodriguez and Rep. Maximo Rodriguez Jr., would impose a unified ₱10-per-milliliter tax on vapor products, with 5% annual increases beginning in 2027. Rodriguez says the proposal could generate an average ₱6 billion in annual collections from 2027 through 2030. The debate comes as the Philippine government considers tobacco, vape and other health-tax reforms to help offset around ₱66 billion in revenue expected to be forgone under a proposed tax-relief package.

Related Topics

Related Read

AIR Global Starts Debt Refinancing Four Months After Nasdaq Listing With About $400 Million Notes Expected

AIR Global Starts Debt Refinancing Four Months After Nasdaq Listing With About $400 Million Notes Expected

2Firsts On-Site | CTIHK Showcases Nicotine Pouches, Heated Tobacco and Chinese Cigars at InterTabac 2026

2Firsts On-Site | CTIHK Showcases Nicotine Pouches, Heated Tobacco and Chinese Cigars at InterTabac 2026

As Regulators Focus on Nicotine Pouch Child Safety, Safeguard Pursues an External Packaging Route

As Regulators Focus on Nicotine Pouch Child Safety, Safeguard Pursues an External Packaging Route

PMI Expands U.S. ZYN Portfolio With New 1.5 mg and 8 mg Strengths, Moves Toward a Unified 20-Pouch-Per-Can Format

PMI Expands U.S. ZYN Portfolio With New 1.5 mg and 8 mg Strengths, Moves Toward a Unified 20-Pouch-Per-Can Format

Malaysia Liquid Nicotine Returns to Poisons List, Leaving Vape Retail and RM354 Million Tax Collection in Legal Uncertainty

Malaysia Liquid Nicotine Returns to Poisons List, Leaving Vape Retail and RM354 Million Tax Collection in Legal Uncertainty

Philippines Weighs Unified Vape Tax as Lawmakers Back Risk-Based Rates and Government Seeks to Fill ₱66 Billion Revenue Gap

Philippines Weighs Unified Vape Tax as Lawmakers Back Risk-Based Rates and Government Seeks to Fill ₱66 Billion Revenue Gap