Deutsche Bank Upgrades British American Tobacco (BTI) to Buy
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Price: $107.56 -1.6%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade BTI Now!
Deutsche Bank upgraded British American Tobacco (NYSE: BTI) from Hold to Buy.
The firm comments, "Though BAT and Imperial made good underlying progress during 2012, the stocks came under pressure from an increased investor focus on regulatory matters. Now that plain packaging is a fact in Australia, and the main elements of proposed EU changes are known, we think important overhangs should clear. Whilst Imperial Tobacco, where we see signs that an increased focus on organic growth is starting to work, remains our top pick across European Tobacco names, we have upgraded our recommendation on BAT to Buy (PT 43500c, up from 40000c) as we consider the current price a solid entry point to a high-quality stock."
For an analyst ratings summary and ratings history on British American Tobacco click here. For more ratings news on British American Tobacco click here.
Shares of British American Tobacco closed at $102.14 yesterday, with a 52 week range of $89.25-$109.73.
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The firm comments, "Though BAT and Imperial made good underlying progress during 2012, the stocks came under pressure from an increased investor focus on regulatory matters. Now that plain packaging is a fact in Australia, and the main elements of proposed EU changes are known, we think important overhangs should clear. Whilst Imperial Tobacco, where we see signs that an increased focus on organic growth is starting to work, remains our top pick across European Tobacco names, we have upgraded our recommendation on BAT to Buy (PT 43500c, up from 40000c) as we consider the current price a solid entry point to a high-quality stock."
For an analyst ratings summary and ratings history on British American Tobacco click here. For more ratings news on British American Tobacco click here.
Shares of British American Tobacco closed at $102.14 yesterday, with a 52 week range of $89.25-$109.73.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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