Professional
Added to YB: 2024-07-04
Pitch date: 2024-06-25
BTI [bullish]
British American Tobacco p.l.c.
+117.53%
current return
Author Info
No bio for this author
Company Info
British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the United States, Europe, Latin America, Canada, the Asia-Pacific, the Middle East, Central Asia, Caucasus, and Africa.
Market Cap
GBP 94.2B
Pitch Price
GBP 28.04
Price Target
49.00 (-20%)
Dividend
5.64%
EV/EBITDA
9.29
P/E
12.44
EV/Sales
4.91
Sector
Tobacco
Category
value
British American Tobacco p.l.c.: Reaffirming Our Wide Moat and Fair Value Estimates; Shares Undervalued
BTI: Wide moat, $49 PT. Next-gen products to benefit growth, but less than PMI. Cigarette price hikes offsetting volume declines. 11.5x P/E, 8x EV/EBITDA, 6% yield. 1% rev growth, 44% op margin by 2028. Risks: Weak heated tobacco position, currency exposure. Upside: US market strength, global diversification. 1.5% med-term growth assumed.
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