Imperial Brands Stock News

Bank of America has upgraded Imperial Brands PLC (LSE:IMB) to 'buy' from 'neutral', arguing the market has overreacted to a collapse in the tobacco group's Australian business. The bank kept its price objective at 3,200p, implying around 20% upside, and said the roughly 13% share price fall since April offers an attractive entry point.

The U.S. Food and Drug Administration proposed a rule on Friday that would require foreign tobacco product makers to ​register their facilities and list products sold in the country.