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Prices & Quotes - UK Markets - British American Tobacco (BATS)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 2,819.50p
Change Today:
2.00p
Market Cap:
64,697m
Sector:
Tobacco

JP Morgan cuts BAT rating on next-generation weakness

By Sean Farrell

Date: Friday 09 Apr 2021

LONDON (ShareCast) - (Sharecast News) - British American Tobacco lags behind Philip Morris International on heated tobacco products (HTP) and faces near-term risks, JP Morgan said as it cut BAT's rating to 'neutral' and its price target for the shares.




HTP are an important part of the global nicotine industry's future and has been gaining in popularity more than JP Morgan expected in the past year, the bank said.

Philip Morris is the clear leader in HTP with an 82% market share and makes profits while BAT is only at the investment stage. This makes Philip Morris attractive, JP Morgan said as it upgraded the maker of Marlboro outside the US to 'overweight' and increased its price target to $105 from $81.

BAT is several years behind Philip Morris in terns of next-generation products, which include HTP, and its increased investment in HTP is likely to hold back earnings growth, JP Morgan said. The bank cut its rating on BAT shares from 'overweight' and reduced its price target to 31 from 35.

JP Morgan analyst Jared Dinges also said BAT faced short-term risks such as a weak first half, disappointment on share buybacks and next-generation products and possible acquisitions. Dinges said his preferred value play in nicotine was Imperial Brands, which retained his 'overweight' rating.

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BATS Market Data

Currency UK Pounds
Price 2,819.50p
Change Today 2.00p
52 Week High 3,275.00p
52 Week Low 2,448.00p
Volume 2,272,901
Shares Issued 2,294.62m
Market Cap 64,697m

Performance Indicators

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What The Brokers Say

Strong Buy 16
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 19
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BATS Dividends

  Latest Previous
  Q4 Q3
Ex-Div 23-Dec-21 30-Sep-21
Paid 09-Feb-22 11-Nov-21
Amount 53.90p 53.90p

Trades for 13-May-2021

Time Volume / Share Price
16:45 216 @ 2,821.00p
16:45 216 @ 2,821.00p
16:37 333 @ 2,819.50p
16:37 400 @ 2,819.50p
16:37 169 @ 2,819.50p

BATS Key Personnel

CEO Jack Bowles
Finance Director Tadeu Marroco
Chair Luc Jobin