PM - British American Tobacco Isn't Dead Money As Pessimism Peaks
2024-05-08 12:22:17 ET
Summary
- British American Tobacco investors have endured a torrid time.
- BAT's leading peers have had mixed performances in Q1, with Philip Morris leading the pack.
- BAT management is under pressure to present a solid first-half report in June.
- BTI stock's attractive forward dividend yield of almost 10% has likely reflected significant pessimism.
- BTI's turnaround seems to be underway, as BTI remains a fundamentally strong company priced too attractively.
BAT Faces An Uncertain 2024
British American Tobacco p.l.c. ( BTI ) investors have endured a torrid market environment as investors reassessed BAT's ability to reignite growth through its next-gen products. As a result, British American Tobacco needs to inspire more confidence in its anticipated first-half sales update in June 2024. British American Tobacco's leading peers have experienced mixed performances in the first quarter, led by Philip Morris ( PM ). While Philip Morris has performed well with its reduced-risk products, the same cannot be said of Altria Group ( MO ). Altria Group still needs to deliver more convincing performances, underscoring Altria's smokeless transition. Therefore, BAT investors are likely heading into an uncertain first-half report, compounded by macroeconomic pressures affecting consumer spending in 2024....
British American Tobacco Isn't Dead Money As Pessimism Peaks