Analyst Reiterates Buy as U.S. Growth, Margin Upside and Lower Regulatory Risk Drive DCF-Based Price Target Increase to 5,300p
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Bank of America Securities analyst Bastien Agaud has reiterated a Buy rating on British American Tobacco, setting a price target of 5,300p. This decision is based on strong U.S. growth prospects, margin improvements, and reduced regulatory risks. Agaud highlights the potential for increased earnings from modern oral products and a favorable outlook despite softer trends in other regions. He notes that the stock is undervalued compared to the European staples sector, with a higher DCF-based price target indicating significant upside potential.
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