Imperial Brands CFO Lukas Paravicini will soon take over as CEO from Stefan Bomhard. The company predicts low single-digit growth for tobacco and mid single-digit growth for net revenue and operating profit. Annual net revenue growth is forecasted at 60 basis points through 2029. Shareholder returns are a top priority, with nearly GBP 3 billion per year in dividends and buybacks. Despite overvaluation concerns, Imperial Brands maintains a fair value estimate of GBP 2,700 per share. The market may be overestimating the company’s growth in reduced-risk products compared to competitors.

Read more at Morningstar: As Fiscal Year-End Nears, We Expect New CEO to Maintain Strategy