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Thanks for that gives a bit more clarity on this one. As you say easy to take your mind of the ball when things seem good. Cheers
i started paying more attention when i noticed it was struggling to climb higher, when IMT bounced along the 2340p to 2360p range. then, at the first 'substantial' decline where IMT closed 2314p two days go, i sold everything. at this point, there was still no major news. then on wednesday, a broker downgraded IMT to sell and lowering target price by a huge margin - from 2450p to 2130p. this is after china, home to the world's largest tobacco consumers, reportedly intends to ban smoking in public places by the end of the year. http://www.thisismoney.co.uk/money/markets/article-2536139/MARKET-REPORT-Chinese-burn-tobacco-shares.html?ito=feeds-newsxml
Have noticed this board pretty quiet compared to others. If anyone is reading this are there any views on the decline in the sp apart from a small retrace in the ftse, one broker sell and bearing in mind pending x divi which should affect the sp.
Interesting suggestion in the press that BAT & IMT might be invited to manufacture 'jazz' cigarettes in US states that have legalized cannabis.
i'm speculating by mid-january, this should be in the region of 2400p+ unless the US government shuts down again(also mid-january, while debt ceiling due date is 7th february).
in here at 226?, glad to see it continuing the momentum. i reckon this should be 2400 by mid-january where IMT will go ex-div for a whopping 80p payout.
Maybe the tobacco lobby can nobble the government, dont forget how much taxes are raised for the gov from tobacco. Smokers are national benefactors
...PM David Cameron is going ahead with plain packaging onn cigarettes in UK! Just heard on Radio5Live news. Looks like the 2100p support could well be broken...?
Generally defensive stocks underperform in a bull market run, and this is probably the case along with P/E getting too expensive to peers ( BATS & Philip Morris(PM)
Further to my last post also noticed Bats had 2 buy ratings today at £38.00 whlie we had a hold. Sp has a good run recently and while there,s always going to be something around the corner to take the wind out of the sails, I dont pay too much attention to brokers ratings too often the SP doesent behave in that manner. Solid share good dividends.
Thanks for that. Trust them to put the boot in just when we are recovering from a recent low, maybe they had a short on
Phillip Morris quoted as saying a possible 2/3% fall in the tobacco industry for 2014. Also Goldman Sachs downgraded BATS to neutral. This is being seen as a possible sign for the rest of the sector.
why such a huge drop today? i can't see any bad news
I hold 250 IMT from 1892p, and 300 BATS at 2027p
On technical matter 2100's is the bottom in this shareprice, but we have so much to consider economically that will/could cause a big jitter on markets. We have the end of QE, interest rates going up, Greece maybe coming back to give us another jitter on markets. The list is endless, so to ask. What price to buy at is a rather narrow minded question. Try buy a stock in two tranches; 1. Make a position, then add 2/3 of that cost to holding to top up. You can't take bets in this macro-economic environment. Lastly, IMT is the sectors cheapest stock to BATS on earnings basis, and Japan Tobacco may come and offer a cash offer near £28-29.00. Try take a look at SSE & GSKas well, SsE seems to be very very close to a bottom, and offer 6%. All the best Scott
Hence walk up to 2280's then boom back to opening price. Done this a couple of times in the last 7 days or so.
Cheap tobacco Woodford slightly trimmed back his holding of British American Tobacco, but whacked up his stake in Imperial Tobacco (LSE: IMT) (NASDAQOTH: ITYBY.US). The master investor purchased a net 2.55 million of the latter's shares for around £60m at what I calculate to be an average buy price of 2,339p. This is Woodford the contrarian value investor at work, as the earnings and dividend valuations within the table below show. Company Current share price Forward P/E Forward dividend yield Imperial Tobacco 2,132p 9.7 5.8% British American Tobacco 3,255p 14.7 4.4% Cheap pharma Woodford added over a million shares to the High Income fund's stake in AstraZeneca (LSE: AZN) (NYSE: AZN.US) at a net cost of getting on for £33m. My sums say he paid an average of 3,026p a share. As with the tobacco companies, Woodford upped his stake in the lowlier rated of the two FTSE 100 big pharma firms. Company Current share price Forward P/E Forward dividend yield AstraZeneca 3,178p 9.6 5.6% GlaxoSmithKline 1,645p 14.2 4.4% A FTSE 100 financial Woodford, who famously sold out of big financials before they were hammered by the global banking crisis, has invested in a FTSE 100 financial company for the first time since. What a turn up for the books that is! The company in question is insurer Legal & General. Woodford made a relatively small purchase of 2 million shares. Unfortunately, I can't tell you how much he paid, but the average price during the period was 166p and the shares are trading at 187p today. Will Woodford further build his stake in L&G (my guess is yes)? And is he now ready to invest in more FTSE 100 financials (I'm not so sure about that one)? We'll have to wait and see.
Imperial Tabacco Group: Investec moves target price from 2440p to 2475p reiterating a buy recommendation.
Certainly looks weak. Any rise is given up almost immediately. Just sold my holding at a small loss. These should recover as they are very cheap compared to BAT but could go much lower first looking at the charts
Yeah i can't see whats going on, 52 week low today and my last lot of shares at over 24 pounds isn't looking too clever right now! :(
Seem to be tanking hard of late. 2000 on the cards?
1.2Million shares (ordinary buy) thats a spicy meatball ! Wish it was mine.
On the way... :)
Today. 35.2 p per share
inflation+ 5% ... No brainer