Argus Starts British American Tobacco (BTI) at Hold

Argus initiates coverage on British American Tobacco (NYSE: BTI) with a Hold rating.

The analyst notes the company faces challenges from smoking bans, reduced consumption, rising cigarette taxes, and increased competition (especially in the smokeless space). It also faces a range of legal risks.

They would look for a nonfundamental pullback below $108 as a potential entry point.

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 $114.11 yesterday.

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