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I'm grateful for any comments, I agree that defensive stocks are often neglected in the good times, and I do like dividend paying stocks but I also think that the fundementals here are still attractive and the share price hopefully has a bit further to go. Look at the share price rise the last 3 years or so, a nice chart. ( unfortunately I wasn't in at the £18 mark ) but this is in times of smoking bans not only in the uk but in various parts of Europe, although not always efficiently implemented. So I am content on holding these until the end of the year, who knows that £28 might be there by then. Good luck.
This has indeed gone ex-div today. The div of 67p is payable 17/2. ATB.
are we up to the period when the ex div cuts temporarily the SP ? When do you think that might be ?
I wasn't meaning to be downputting.I know this is part of a portfolio insurance policy.You have other things riskier and rely on BATS/IMT to provide a bit of backbone,which the higher dividends never cease to attract.And yes these should come into their own in event of any more general Euro- meltdowns.
I agree that the broker targets , up to £28 do seem a bit high, but I'm still pretty confident , and I assume you would agree, that the European pantomime has not finished yet and that, with, I think about 5% year divi this is a safe ( ish ) share. Although this may not see huge rises I think the wave pattern will be a gentle ripple and not the roller coaster seen in other ftse companies this last year, and I fear this year too.
IMT-and BATS have been off their all-time highs since year start.Possibly defensives a bit less attractive given less publicity for Europe and the US allegedly recovering in an election year ? I'd say £28 here was a bit ambitious...
Good divi paying defensive stock, near it's year high but with price targets up to £28 and with 67p divi soon, it's recent retrace gives a good entry point for short term growth and longer term stability. IMO . Good luck.
Forget oil, gold and iron ore, tobacco is the one i wish i had put everything into!!
Investec raises target from 2,320p to 2,660p, buy rating retained.
12 December 2011 OFFICE OF FAIR TRADING (OFT) DECISION AGAINST IMPERIAL TOBACCO IS QUASHED We are pleased that the decision to fine Imperial Tobacco GBP112.3 million for allegedly restricting competition has today been quashed. We take compliance with competition law very seriously and have always rejected the OFT's suggestion that we acted anti-competitively or in any way contrary to the interests of consumers. The OFT's case against Imperial collapsed part way through a Competition Appeal Tribunal hearing. We will now be applying to recover our legal costs. The Company said: "The hearing by the Competition Appeal Tribunal was the first time since the OFT's investigation began more than eight years ago that we were able to have its allegations independently reviewed. "Under this independent scrutiny it became clear that the case the OFT was seeking to establish had no basis in fact, law or economics. "We have consistently believed that this ought to have been apparent to the OFT a long time before now and that we should not have been forced into incurring considerable legal costs and management time defending ourselves in these circumstances." Notes to editors The OFT's investigation began in 2003 and related to certain promotional arrangements between Imperial Tobacco and multiple retailers from 1 March 2000 to 15 August 2003. Imperial Tobacco co-operated fully with the OFT throughout the investigation and categorically denied that these promotional arrangements had the purpose or the effect of restricting competition. Far from being anti-competitive, these arrangements were pro-competitive and to the benefit of consumers. Retailers remained free to set their own prices. In April 2010 the OFT announced its decision to fine Imperial Tobacco and in June 2010 Imperial Tobacco appealed the decision to the Competition Appeal Tribunal. Enquiries Simon Evans (Group Press Officer) Telephone: +44 (0) 117 933 7375 Gerry Gallagher (Director of Investor Communications) Telephone: +44 (0) 117 933 7014 John Nelson-Smith (Investor Relations Manager) Telephone: +44 (0) 117 933 7032 Grant Edmunds (Investor Relations Manager) Telephone: +44 (0) 117 933 7117 This information is provided by RNS The company news service from the London Stock Exchange END
bought this at 8:30
Societe Generale initiates buy on Imperial Tobacco, target price 2400p
Imperial Tobacco (IMT) - a smoking buy at 2,086p The tobacco industry is widely viewed to be in decline (at least in the West), which suggests that consolidation has a major role to play in generating returns going forward. Imperial Tobacco has long played the ugly duckling to the sector's star performer, British American Tobacco (BATS), but this may be about to change now that the company has resumed its share buyback programme and reinstated a progressive dividend policy. With returns having lagged the wider sector in recent years due to the firm's focus on paying down debt, the shares have suffered a de-rating and currently trade at a significant discount to the wider sector. This appears unwarranted, especially now that Imperial is widely tipped as a takeover candidate in the event of a likely bout of M&A activity. In any event, holders look set to receive compound dividend growth of 13% per annum over the next three years. The earnings multiple for the year to September 2010 is just 11 times on current market consensus forecasts, which looks good value given the long-term earnings growth which the firm has posted. Also, the yield is a decent 4.6%.
Edmond Jackson positive article: http://www.iii.co.uk/articles/18826/stock-watch-imperial-tobacco
Shares in Imperial Tobacco Group have lost almost 10% of their value since mid-May, mainly because of fears of a price war in Spain. The good news yesterday was that the war — Imperial prefers the word “skirmish” — is over. The shares, up 10p to £20.12½, are yielding 4.7 per cent for the current year, which is the main reason for holding them, says the Times.
TRADING UPDATE Imperial Tobacco Group PLC (Imperial Tobacco) confirms that the overall anticipated financial performance and position of the Group for the financial year to 30 September 2011 remains in line with the Board's expectations. We continue to focus on driving growth through our total tobacco portfolio in EU and non-EU markets. Tobacco net revenues* are expected to be up around 2 per cent with particularly strong performances in our Eastern Europe, Asia-Pacific and Rest of EU regions. Stick equivalent volumes are expected to decline around 2 per cent. Excluding Spain and the impact of a change in timing of a price increase in the UK, Tobacco net revenues are expected to increase by around 3 per cent and stick equivalent volumes to decline by less than 1 per cent. In Spain, recent price increases will benefit our Tobacco and Logistics operations. These benefits will offset the impact of the change in timing of the UK price increase. Imperial Tobacco expects to release its results for the year ending 30 September 2011 on Tuesday 1 November 2011.
http://www.investegate.co.uk/Article.aspx?id=201109210700086366O
downgrades Imperial Tobacco from buy to neutral, target price cut from 2400p to 2190p.
Rumours that Imperial Tobacco could be a takeover target for British American Tobacco may look wide of the mark, but they illustrate that chief executive Alison Cooper still has to convince investors she knows what she is doing after a year in the job. She seems determined to do so, the Sunday Times notes. In presentations last week, the company explained how it intends to boost sales, with increased innovation a particular focus. Products launched in the past three years account for less than 10% of sales against 15%-20% at other consumer-goods groups. Geographical spread may explain why British American Tobacco shares have been doing rather better than those of its smaller UK-listed rival. While BAT has outperformed the FTSE All-Share index by 9% over the past year, thanks to its exposure to emerging markets, Imperial has underperformed the index by 3.6%. Several analysts believe Imperial should be worth £24 a share or more, against £21.50 last Friday. If concerns over Spain ease further, the company might just manage to get there, the Times suggests.
Collins Stewart downgrades British American Tobacco from buy to hold, target price unchanged at 2,900p.
UBS increases target for Imperial Tobacco from 2325p to 2385p
Matrix recommends buy Imperial Tobacco Group, target price 2290p.
Ruling on UK tobacco vending appeal The Court of Appeal has today dismissed an appeal by Imperial Tobacco Group PLC's cigarette vending machine subsidiary Sinclair Collis over legislation to ban sales of tobacco from vending machines in the UK. Today's ruling upholds a decision by the High Court in December 2010 to reject Sinclair Collis' legal challenge to the relevant sections of the UK Health Act 2009 which seek to ban tobacco vending sales from 1 October 2011. Two of the three Court of Appeal judges agreed that the High Court's decision should be upheld. The view of the third judge was that a ban on tobacco vending sales was disproportionate. We will be asking the Court for permission to appeal the decision to the Supreme Court. If permission to appeal is granted, we have also asked the Court to delay implementation of the vending ban until the appeal has been decided.
http://www.investegate.co.uk/Article.aspx?id=201106171143496529I