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(Sharecast News) - Analysts at Citi raised their target price on tobacco giant British American Tobacco to 48.50 on Friday, stating it expects the firm's 2026 growth performance to surprise to upside.
Citi said BAT remains its top-pick in the beverages and tobacco space, with the group well-placed to deliver at the upper-end/slightly above FY25E consensus revenue expectations.
Moreover, Citi said it continues to see scope for both positive earnings momentum and a further re-rating in FY26. Importantly, Citi said BAT's 9 December pre-close trading update should provide further confidence that the group was on-track to deliver its mid-term growth algorithm and highlight the further re-rating opportunity.
Citi also reiterated its 'buy' rating on the stock.
Reporting by Iain Gilbert at Sharecast.com
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