British American Tobacco PLC

British American Tobacco is engaged in tobacco and nicotine products. This includes Co.'s Next Generation Products, comprising its vapour and tobacco heating products, and its oral tobacco and nicotine products such as moist snuff and snus. Co.'s U.S business (Reynolds American) brand portfolio which includes Newport, Camel and Pall Mall. These, and other brands including Doral, Misty and Capri, are manufactured in a variety of styles and marketed throughout the U.S. Co. has other international and local cigarette brands including Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, Benson & Hedges, John Player Gold Leaf, State Express 555 and Shuang Xi.
  • TickerBATS
  • ISINGB0002875804
  • ExchangeLondon Stock Exchange
  • SectorTobacco
  • CountryUnited Kingdom

Analysts

Philip Gorham

Morningstar | British American Tobacco Offers Material Upside but Menthol Overhang Likely to Linger

The advent of e-cigarettes has created the most significant change in the industry since the 1960s. Early forms of e-cigarettes have existed for a generation, but with the consumer arguably less brand-loyal and more aware of health issues than ever before, the industry is on the cusp of a seismic shift to next-generation products. It seems likely that conventional tobacco will remain the driving force of the industry profit pool for at least the next decade, but Big Tobacco manufacturers are nevertheless placing their bets on the new categories most likely to win share of smokers.To date, Brit...

Philip Gorham

FDA Signals Anti-Initiation Strategy Will Be Sustained Under New Commissioner

The FDA announced tighter measures against what it describes as "epidemic" levels of youth consumption of e-cigarettes, a move we think signals the FDA will continue to pursue anti-initiation policies despite the resignation of commissioner Scott Gottlieb. We are reiterating our fair value estimates for the tobacco manufacturers as the measures, while significant in terms of signalling the FDA’s stance, will not have much direct impact on tobacco manufacturers’ cash flows. The FDA’s proposals in...

Philip Gorham

Morningstar | Few Surprises in British American Tobacco's 4Q as Shares Remain Materially Undervalued

There were few surprises in British American Tobacco's preliminary results for 2018, given that the company had released a preclose trading update in December. BAT was in line with our forecast for EPS but missed on the top line. We are retaining our medium-term estimates and our GBP 45 fair value estimate for the ordinary shares. We think there is significant upside to BAT and the tobacco group more broadly, but we recognize that a number of exogenous risks must pass in order for sentiment to improve. Organic revenue, adjusted as if BAT had owned Reynolds American for the full year in 2017, ...

Philip Gorham

Few Surprises in British American Tobacco's 4Q as Shares Remain Materially Undervalued

There were few surprises in British American Tobacco's preliminary results for 2018, given that the company had released a preclose trading update in December. BAT was in line with our forecast for EPS but missed on the top line. We are retaining our medium-term estimates and our GBP 45 fair value estimate for the ordinary shares. We think there is significant upside to BAT and the tobacco group more broadly, but we recognize that a number of exogenous risks must pass in order for sentiment to i...

British Amer Tobacco – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Philip Gorham

Morningstar | British American Tobacco Offers Material Upside but Menthol Overhang Likely to Linger

The advent of e-cigarettes has created the most significant change in the industry since the 1960s. Early forms of e-cigarettes have existed for a generation, but with the consumer arguably less brand-loyal and more aware of health issues than ever before, the industry is on the cusp of a seismic shift to next-generation products. It seems likely that conventional tobacco will remain the driving force of the industry profit pool for at least the next decade, but Big Tobacco manufacturers are nevertheless placing their bets on the new categories most likely to win share of smokers.To date, Brit...

Philip Gorham

FDA Signals Anti-Initiation Strategy Will Be Sustained Under New Commissioner

The FDA announced tighter measures against what it describes as "epidemic" levels of youth consumption of e-cigarettes, a move we think signals the FDA will continue to pursue anti-initiation policies despite the resignation of commissioner Scott Gottlieb. We are reiterating our fair value estimates for the tobacco manufacturers as the measures, while significant in terms of signalling the FDA’s stance, will not have much direct impact on tobacco manufacturers’ cash flows. The FDA’s proposals in...

Philip Gorham

Morningstar | Few Surprises in British American Tobacco's 4Q as Shares Remain Materially Undervalued

There were few surprises in British American Tobacco's preliminary results for 2018, given that the company had released a preclose trading update in December. BAT was in line with our forecast for EPS but missed on the top line. We are retaining our medium-term estimates and our GBP 45 fair value estimate for the ordinary shares. We think there is significant upside to BAT and the tobacco group more broadly, but we recognize that a number of exogenous risks must pass in order for sentiment to improve. Organic revenue, adjusted as if BAT had owned Reynolds American for the full year in 2017, ...

Philip Gorham

Few Surprises in British American Tobacco's 4Q as Shares Remain Materially Undervalued

There were few surprises in British American Tobacco's preliminary results for 2018, given that the company had released a preclose trading update in December. BAT was in line with our forecast for EPS but missed on the top line. We are retaining our medium-term estimates and our GBP 45 fair value estimate for the ordinary shares. We think there is significant upside to BAT and the tobacco group more broadly, but we recognize that a number of exogenous risks must pass in order for sentiment to i...

Philip Gorham

Morningstar | BATS Updated Forecasts and Estimates from 12 Dec 2018

We are retaining our short-term estimates, wide economic moat rating, and GBX 4,500 fair value estimate for British American Tobacco following the company's brief trading update before it closes the books on 2018. Management said it expects BAT to beat its full-year high-single-digit EPS growth guidance. More significant to the company's valuation, in our view, is the potential ban on menthol in the U.S., which could significantly reduce sales of the company's Newport brand. BAT says it expects an industry decline of 3.5%, but that it will take share of around 40 basis points. While the indus...

A director bought 4,000 shares at 4,236p and

A director at British American Tobacco bought 4,000 shares at 4,236p and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names ...

BRITISH AMER.TOB.PLC. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BRITISH AMER.TOB.PLC. (GB), a company active in the Tobacco industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 1, 2019, the closing price was GBp 2,710.00 and its potential was estimated at GBp 3,029.48.

British American Tobacco

British American Tobacco

British American Tobacco

British American Tobacco

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British Amer Tobacco – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Etude l' AG du 19/07/2017

 Item 1: To approve the acquisition of Reynolds American Inc.On 17 January 2017, the Company announced that it and Reynolds American Inc (Reynolds) had agreed the terms of a recommended offer for the acquisition, by a subsidiary of the Company, of the remaining 57.8% of the common stock of Reynolds, not already held by the Company, which will be effected through a statutory merger pursuant to the laws of North Carolina.  Owing to its size, the proposed acquisition constitutes a Class 1 transaction for the purposes of the Listing Rules, and therefore requires the approval of shareholders. The p...

Matthieu DRIOL

Analyse court terme - BRITISH AM. TOBAC. : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 3 205,89 p. La tendance de fond serait remise en cause en cas de franchissement de 4 226,42 p.

Matthieu DRIOL

Short term view - BRITISH AM. TOBAC. : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at 3,205.89 p. The background trend would be questioned should prices rise above 4,226.42 p.

Matthieu DRIOL

Short term view - BRITISH AM. TOBAC. : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at 3,205.89 p. The background trend would be questioned should prices rise above 4,226.42 p.

Matthieu DRIOL

Analyse court terme - BRITISH AM. TOBAC. : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 3 205,89 p. La tendance de fond serait remise en cause en cas de franchissement de 4 226,42 p.

Matthieu DRIOL

Analyse moyen terme - BRITISH AM. TOBAC. : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 3 141,74 p, puis 2 817,73 p. Le franchissement de 4 321,84 p remettrait en cause la suite de la baisse.

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