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British American Tobacco assumed with a Buy at Jefferies

Jefferies assumed coverage of British American Tobacco (BTI) with a Buy rating and 4,800 GBp price target The firm assumed coverage of global tobacco with a positive view. Within staples, Jefferies’ favored sectors are tobacco, beer and consumer health. It estimates global nicotine will post low-single-digit growth from combustibles and next generation products. The analyst’s top pick is British American.

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