Jefferies says British American among ‘biggest beneficiaries’ of FDA delay

After CNN quoted a FDA spokesperson as having said the FDA is running behind schedule and will complete work on a menthol cigarette final rule in the coming months, Jefferies analyst Owen Bennett said the firm expects British American Tobacco (BTI) to be “one of the biggest beneficiaries” from the delay. The firm, which is “increasingly of the view” tobacco companies could win a legal case, has a Buy rating on British American Tobacco shares. Other publicly traded companies in the tobacco products space include Altria Group (MO), Imperial Brands (IMBBY) and Philip Morris (PM).