BofA analyst Victoria Petrova reinstated coverage of British American Tobacco with a Buy rating and 2,900 GBp price target. British American is working to offset secular decline in traditional tobacco with high-speed growth of next-generation products and the firm thinks a “cyclical” loss in U.S. market share should stabilize as downtrading comes to an end. BofA expects returns to shareholders to accelerate again in 2025, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BTI:
- British American Tobacco Stock (NYSE:BTI): Record-Low Valuation Signals Upside
- British American Tobacco call volume above normal and directionally bullish
- Organigram mails management information circular on general, special meeting
- FCCPC says British American Tobacco agreed to pay $110M in consent order
- Ex-Dividend Date Nearing for These 10 Stocks – Week of December 18, 2023