BAT: Jefferies maintains Buy rating

(CercleFinance.com) - Jefferies has reiterated its buy rating on British American Tobacco (BAT) shares with an unchanged price target of 3900p.


"1H22 pre-close saw no change to underlying FY22 operational guidance from March, with ex FX sales of 2%-4% (cons. 1.5%)," the analyst says.

"Elsewhere, compared to guidance at year-end, it now sees an EPS tailwind of 5.0% (was flat; cons. 2.2%), global tobacco industry volumes in footprint -3.0% (was -2.5%), and US industry volume outlook "remains uncertain," Jefferies adds.


Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.