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BAT: stock sanctioned as targets cut

( - The British American Tobacco (BAT) share is down over 3% in Tuesday afternoon trading in London, after the group reduced its annual forecasts on its trading update at the end of its first half-year.

For the full-year the tobacco giant now expects its adjusted revenues to increase by between 1% and 3%, at constant exchange rates, while it was previously expecting "around the lower end of the 3-5% range".

BAT expects "Mid-Single Figure FY constant currency adjusted diluted EPS growth," and no longer "High-Single Figure" growth.

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