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BTI

British American Tobacco

$34.97

-1.54 (-4.22%)

15:41
11/15/18
11/15
15:41
11/15/18
15:41

British American says menthol cigarettes should not be treated 'differently'

In a statement regarding the recent announcement from FDA Commissioner Gottlieb, British American Tobacco said that, "We share the FDA's concerns around youth access to vapor products and we welcome the priority that he has given to this matter. However, in relation to his proposals on menthol cigarettes, the science today does not support treating them differently from other cigarettes. Regarding youth access to vapor products: We have robust measures in place that demonstrate our commitment to marketing which does not target youth and have also communicated to the FDA that we will be applying additional measures. We fully support third party age verification of e-commerce and we already have this in place. We are also instituting an enhanced program with all of our contracted retailers to drive compliance with underage sales laws. We would welcome similar measures being adopted industry-wide. differently to non-menthol cigarettes will increase the illegal market, fueling more criminal activity, adding further challenges to criminal and social justice issues. Further, as an illegal market in menthol cigarettes will increase, youth smoking access will increase. We will continue to work closely with the FDA on these important issues, including participating in a thorough science-based review to address the use of menthol in cigarettes. At the same time, we will continue to deploy our best efforts to curb youth access to vaping and tobacco products."Reference Link

BTI British American Tobacco
$34.97

-1.54 (-4.22%)

09/20/18
WELS
09/20/18
NO CHANGE
WELS
Outperform
Tobacco stocks to rally on PM USA price increase, says Wells Fargo
Wells Fargo analyst Bonnie Herzog says Altria Group (MO) and Philip Morris (PM) just announced a "healthy and slightly higher than expected" wholesale list price increase on all of its cigarette brands, including Marlboro The analyst learned from industry contacts that PM USA took a cigarette list price increase of 10c per pack or $1.00 per carton on Marlboro, L&M, and B&H Menthol, 15c per pack on Parliament and Virginia Slims, and 50c per pack on everything else. The 10c per pack increase on Marlboro is slightly higher than the 9c per pack increase Altria took on Marlboro in March 2018, reflecting the company's "significant pricing power," Herzog tells investors in a research note. The analyst expects British American Tobacco (BTI), Reynolds and ITG Brands will follow Altria's lead and increase prices in the next few days, but possibly not as robust of an increase. She expects Tobacco stocks will react favorably to this list price increase and reiterates an Overweight rating on the sector and Outperform rating on Altria Group.Fargo
10/12/18
GSCO
10/12/18
NO CHANGE
GSCO
Goldman says tobacco stock reactions to latest FDA news seems overdone
Goldman Sachs analyst Judy Hong noted that European and U.S. tobacco stocks are underperforming, which she attributes to an FDA educational presentation on the topic of a potential tobacco standard for the level of nicotine in combusted cigarettes as well the FDA sending letters to 21 e-vapor makers to assess whether their products are being marketed illegally. Given that the FDA has already announced a comprehensive tobacco regulatory plan and has solicited comments on the costs/benefits of lowering nicotine, she views the presentation as more of an informational review of existing research rather than anything incremental. The letters she views as consistent with recent direction that the FDA is taking on cracking down on the e-vapor category given the apparent increase in youth consumption, Hong added. In total, she sees today's stock reactions as broadly overdone and keeps Buy ratings on Philip Morris (PM) and British American Tobacco (BTI) and Neutral ratings on Altria (MO) and Imperial Brands (IMBBY).
10/16/18
BERN
10/16/18
INITIATION
BERN
Market Perform
British American Tobacco initiated with a Market Perform at Bernstein
10/18/18
DZBN
10/18/18
DOWNGRADE
DZBN
Sell
British American Tobacco downgraded to Sell from Hold at DZ Bank

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AZRX

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JBLU

JetBlue

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ACHC

Acadia

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0.16 (0.54%)

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PAG

Penske Automotive

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-1.305 (-2.84%)

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JBLU

JetBlue

$16.84

-0.13 (-0.77%)

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JEC

Jacobs Engineering

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PRIM

Primoris

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PACW

PacWest Bancorp

$38.85

-0.39 (-0.99%)

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ISRG

Intuitive Surgical

$490.70

-37.34 (-7.07%)

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NVR

NVR

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173.72 (5.63%)

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LMT

Lockheed Martin

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CVE

Cenovus Energy

$10.43

0.345 (3.42%)

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NUE

Nucor

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ZTO

ZTO Express

$19.30

-0.3 (-1.53%)

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DLR

Digital Realty

$119.37

-1.06 (-0.88%)

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Downgrade
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WSO

Watsco

$150.99

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TWTR

Twitter

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STAG

STAG Industrial

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FCPT

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HBCP

Home Bancorp

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