BAT Chair Extends Tenure as Group Deepens Smokeless Transformation and Reaffirms Growth Targets

British American Tobacco ( (GB:BATS) ) has issued an update.

British American Tobacco’s chair used the 2026 AGM to defend a two‑year extension to his tenure beyond the UK Corporate Governance Code’s nine‑year guideline, arguing continuity is needed as the group navigates a critical phase of its transformation. The board insists governance standards and board refreshment remain priorities while it continues the search for a permanent successor.

The company reported that it met the top end of its 2025 guidance, returned its U.S. business to growth, lifted users of its smokeless products by more than 15% and returned £6.3bn to shareholders via dividends and buy‑backs. Management highlighted its Fit2Win transformation programme, expanded innovation and R&D ecosystem, global distribution strength and AI‑enabled digital tools as core to driving growth in reduced‑risk products and achieving its smokeless ambition.

BAT also emphasised an aggressive regulatory and harm‑reduction agenda, warning that restrictive policies in markets like Australia and Brazil fuel illicit trade and slow smoking‑rate declines, while more permissive frameworks in Sweden, the UK and the U.S. show faster progress. The group reiterated its confidence in delivering mid‑term targets for revenue, profit and EPS growth, although it expects 2026 results to land at the lower end of guidance due to APMEA stabilisation and continued investment in premium innovation and new categories.

The most recent analyst rating on (GB:BATS) stock is a Hold with a £41.50 price target. To see the full list of analyst forecasts on British American Tobacco stock, see the GB:BATS Stock Forecast page.

Spark’s Take on BATS Stock

According to Spark, TipRanks’ AI Analyst, BATS is a Outperform.

The score is driven primarily by solid-but-not-clean financial performance (profitability strength offset by leverage and a notable 2025 cash-flow decline). Valuation is supportive due to the high dividend yield and moderate P/E, while technicals are broadly neutral. Earnings-call guidance and capital-return plans help, but are tempered by vapor/illicit pressures and regional weakness.

To see Spark’s full report on BATS stock, click here.

More about British American Tobacco

British American Tobacco is a global tobacco and nicotine company with brands sold in more than 140 countries, focusing on both traditional combustibles and a growing portfolio of reduced-risk, smokeless products. The group is investing heavily in science, digital capabilities and AI-driven consumer insights to accelerate its transition toward a predominantly smokeless business by 2035.

Average Trading Volume: 4,539,343

Technical Sentiment Signal: Strong Buy

Current Market Cap: £94.16B

For a thorough assessment of BATS stock, go to TipRanks’ Stock Analysis page.