Fly News Breaks for January 10, 2020
Jan 10, 2020 | 07:56 EDT
Argus analyst David Coleman raised his price target for British American Tobacco to $50 from $40 and maintained a Buy rating, saying British American has a record of consistent growth, with strong gains in revenue, net income, and adjusted EPS over the last several years. The analyst tells investors in a research note that the Reynolds American acquisition should help British American Tobacco to strengthen its R&D program and expand its share in the smokeless market, adding that another positive is the recent FDA policy prioritizing enforcement against flavored e-cigarette products.
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