British American Tobacco (BTI) Upgraded by Zacks Investment Research to “Buy”
British American Tobacco (NYSE:BTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, January 3rd. The firm currently has a $75.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 9.54% from the stock’s previous close.
According to Zacks, “British American Tobacco is the holding company of a group of companies which manufacture, market and sell tobacco products. “
BTI has been the subject of several other research reports. Jefferies Group set a $78.00 price objective on British American Tobacco and gave the company a “buy” rating in a report on Saturday, November 18th. Goldman Sachs Group raised British American Tobacco from a “neutral” rating to a “buy” rating in a report on Monday, October 9th. Finally, Cowen raised British American Tobacco from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.00.
A number of institutional investors have recently modified their holdings of BTI. Bank of New York Mellon Corp grew its position in British American Tobacco by 1,509.0% in the third quarter. Bank of New York Mellon Corp now owns 8,032,924 shares of the company’s stock worth $501,659,000 after acquiring an additional 7,533,669 shares during the period. Evercore Trust Company N.A. acquired a new position in British American Tobacco during the third quarter worth $331,037,000. FMR LLC lifted its stake in British American Tobacco by 14.7% during the second quarter. FMR LLC now owns 27,727,365 shares of the company’s stock worth $1,900,434,000 after purchasing an additional 3,557,549 shares in the last quarter. Thornburg Investment Management Inc. acquired a new position in British American Tobacco during the third quarter worth $183,498,000. Finally, Legal & General Group Plc acquired a new position in British American Tobacco during the third quarter worth $180,398,000. Institutional investors own 9.37% of the company’s stock.
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British American Tobacco Company Profile
British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).
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