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British American Tobacco ( (GB:BATS) ) has issued an update.
British American Tobacco announced the repurchase of 112,660 of its ordinary shares from Banco Santander as part of its ongoing buyback program. The shares, purchased at an average price of 4,216.4370 pence, will be canceled, reducing the total number of shares in circulation. This move is part of the company’s strategy to enhance shareholder value and optimize its capital structure, potentially impacting its stock market performance and investor relations.
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 overall stock score is driven by strong technical momentum and robust cash flow generation. The company’s strategic deleveraging and attractive dividend yield add to its appeal. However, high valuation metrics and earnings volatility present challenges. The positive outlook from the earnings call and commitment to shareholder returns through buybacks and dividends further support the score.
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 production and sale of cigarettes and other nicotine products. The company has a significant market presence globally, focusing on both traditional tobacco products and newer, reduced-risk alternatives.
Average Trading Volume: 5,486,066
Technical Sentiment Signal: Buy
Current Market Cap: £91.73B
For detailed information about BATS stock, go to TipRanks’ Stock Analysis page.