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).
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 downgraded to Hold from Buy at Argus
- Juul Labs laying off about 30% of workforce, WSJ reports
- British American Tobacco price target lowered to 3,100 GBp at Morgan Stanley
- British American Tobacco call volume above normal and directionally bullish
- British American Tobacco price target lowered to 3,300 GBp from 3,500 GBp at Morgan Stanley