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British American Tobacco ( (GB:BATS) ) has shared an update.
British American Tobacco p.l.c. announced the repurchase of 92,400 ordinary shares as part of its ongoing buyback program. This transaction, executed through Merrill Lynch International, is part of the company’s strategy to manage its capital structure and enhance shareholder value. The purchased shares will be canceled, reducing the total number of shares in issue and potentially impacting shareholder voting rights and interest notifications.
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 score reflects strong financial performance and strategic initiatives to enhance shareholder value through buybacks. However, the high P/E ratio and earnings volatility pose risks. Positive technical indicators and a solid dividend yield provide additional support.
To see Spark’s full report on GB:BATS stock, click here.
More about British American Tobacco
British American Tobacco p.l.c. operates in the tobacco industry, focusing on the production and sale of cigarettes and other nicotine products. The company is a major player in the global market, with a significant presence in various regions.
Average Trading Volume: 6,114,779
Technical Sentiment Signal: Buy
Current Market Cap: £76.98B
Find detailed analytics on BATS stock on TipRanks’ Stock Analysis page.