UBS has raised its target price for British American Tobacco (BAT) to 3000 pence while keeping a "Neutral" rating.
Analyst Faham Baig pointed out the positive results of recent investments presented during the company's latest capital markets day.
Despite this positive outlook, Baig acknowledged that the market environment is dynamic, which could lead to discussions about reducing BAT's stake in the Indian conglomerate ITC.
The revised price target reflects an increase in industry valuation, indicating a cautious yet favorable view on BAT's future performance.