Goldman Sachs Group, Inc. (The) Upgrades British American Tobacco p.l.c. (BTI) to “Buy”

Goldman Sachs Group, Inc. (The) upgraded shares of British American Tobacco p.l.c. (NYSE:BTI) from a neutral rating to a buy rating in a report released on Monday morning, Marketbeat reports.

A number of other equities research analysts also recently issued reports on the stock. Bank of America Corporation set a $79.00 price target on shares of British American Tobacco p.l.c. and gave the company a buy rating in a research note on Thursday, July 6th. Piper Jaffray Companies reaffirmed a buy rating on shares of British American Tobacco p.l.c. in a research note on Monday, July 31st. SBG Securities raised shares of British American Tobacco p.l.c. from a hold rating to a buy rating in a research note on Monday, July 31st. UBS AG reaffirmed a buy rating on shares of British American Tobacco p.l.c. in a research note on Tuesday, August 1st. Finally, J P Morgan Chase & Co reaffirmed an overweight rating on shares of British American Tobacco p.l.c. in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $69.00.

British American Tobacco p.l.c. (BTI) opened at 64.46 on Monday. The company has a market cap of $119.77 billion, a price-to-earnings ratio of 21.50 and a beta of 1.06. British American Tobacco p.l.c. has a 12-month low of $52.71 and a 12-month high of $73.41. The company’s 50 day moving average is $62.80 and its 200 day moving average is $66.71.

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The firm also recently declared a None dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, August 18th were paid a dividend of $0.728 per share. This represents a yield of 2.28%. The ex-dividend date was Wednesday, August 16th.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in British American Tobacco p.l.c. by 14.7% during the second quarter. FMR LLC now owns 27,727,365 shares of the company’s stock valued at $1,900,434,000 after acquiring an additional 3,557,549 shares during the last quarter. Goldman Sachs Group Inc. increased its position in British American Tobacco p.l.c. by 16.3% during the second quarter. Goldman Sachs Group Inc. now owns 15,532,398 shares of the company’s stock valued at $1,064,590,000 after acquiring an additional 2,181,462 shares during the last quarter. Balyasny Asset Management LLC increased its position in British American Tobacco p.l.c. by 817.0% during the second quarter. Balyasny Asset Management LLC now owns 2,330,151 shares of the company’s stock valued at $159,709,000 after acquiring an additional 2,076,034 shares during the last quarter. Northern Trust Corp increased its position in British American Tobacco p.l.c. by 0.3% during the second quarter. Northern Trust Corp now owns 2,089,238 shares of the company’s stock valued at $143,197,000 after acquiring an additional 7,233 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. increased its position in British American Tobacco p.l.c. by 1.0% during the second quarter. Schafer Cullen Capital Management Inc. now owns 1,278,569 shares of the company’s stock valued at $87,633,000 after acquiring an additional 12,365 shares during the last quarter. 4.65% of the stock is currently owned by institutional investors.

About British American Tobacco p.l.c.

British American Tobacco p.l.c. is a tobacco and next generation products company. The Company’s tobacco product range includes cigarettes, fine cut (roll-your-own and make-your-own tobacco) and Swedish-style snus. Its segments include Asia-Pacific, Americas, Western Europe, and Eastern Europe, Middle East and Africa (EEMEA).

Analyst Recommendations for British American Tobacco p.l.c. (NYSE:BTI)

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