British American Tobacco downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Jared Dinges downgraded British American Tobacco to Neutral from Overweight with a price target of 3,100 GBp, down from 3,600 GBp. The analyst says the company’s headwinds are "showing no signs of abating." Competitive and regulatory risks are building in vapor, while British American’s U.S. cigarette trends remain weaker than expected, the analyst tells investors in a research note.