British American Tobacco p.l.c. (NYSE:BTI) is included among the 15 Global Dividend Stocks to Diversify Your Portfolio.
On December 10, Morgan Stanley analyst Rashad Kawan raised the firm’s price target on British American Tobacco p.l.c. (NYSE:BTI) to 3,050 GBp from 3,000 GBp while keeping an Underweight rating on the shares.
Around the same time, Jefferies took a more constructive stance, naming British American Tobacco p.l.c. (NYSE:BTI) as its top pick in the global tobacco sector. The firm said its view is driven by growing confidence that the company’s shift toward a smoke-free, products-focused portfolio is sustainable and still not fully reflected in the share price.
Jefferies analyst Andrei Andon-Ionita pointed to several factors supporting the investment case. These include accelerating market share gains in the US modern oral segment and early signs of improvement in volumes and pricing in the US. Vuse business, and a solid outlook for combustibles heading into 2026. He also highlighted the company’s strong balance sheet, which is seen as providing room for continued and meaningful cash returns to shareholders.
Andon-Ionita and his team said they are more optimistic than the broader Wall Street consensus on the strength and durability of British American Tobacco’s growth in modern oral products. That view is most pronounced in the US, where Velo Plus has posted more than 300% growth in both volume and value and has emerged as a leading driver of category expansion. The analyst made the following remark:
“We see further upside from innovation and regulatory enforcement in US eVapor, and also highlight the resilience of the Combustibles business, which continues to deliver robust cash flow and margin expansion despite ongoing volume declines.”
British American Tobacco is a multinational group that manufactures and sells cigarettes, tobacco, and a range of other nicotine products across global markets.
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