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The latest update is out from British American Tobacco ( (GB:BATS) ).
British American Tobacco p.l.c. announced the purchase of 113,078 of its ordinary shares from Banco Santander, S.A. as part of its ongoing buyback programme. The company plans to cancel these shares, which will reduce the total number of shares in issue to 2,192,139,587. This move is part of a strategic effort to manage the company’s capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:BATS) stock is a Hold with a £29.00 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 GB:BATS Stock
According to Spark, TipRanks’ AI Analyst, GB:BATS is a Neutral.
British American Tobacco’s stock is moderately attractive due to strong cash flow generation and attractive dividend yield. However, concerns about earnings volatility, high valuation, and overbought technical indicators pose risks. Positive shareholder initiatives like share buybacks and strategic deleveraging contribute positively to the stock’s appeal.
To see Spark’s full report on GB:BATS stock, click here.
More about British American Tobacco
British American Tobacco p.l.c. is a leading company in the tobacco industry, primarily engaged in the manufacturing and sale of cigarettes, tobacco, and nicotine products. The company operates globally, focusing on delivering high-quality products and maintaining a strong market presence.
Average Trading Volume: 5,794,181
Technical Sentiment Signal: Buy
Current Market Cap: £90.29B
Learn more about BATS stock on TipRanks’ Stock Analysis page.