2024-05-02 12:36:26 ET
Summary
- British American Tobacco p.l.c's stock has experienced a significant decline in the past year, presenting a potential value gap.
- The company is undergoing a restructuring to align with modern industries and non-combustible products.
- We consider British American Tobacco's stock a hybrid value opportunity with potential for growth and a sustainable dividend yield.
- Risks such as restructuring uncertainty and waning operating metrics must be considered.
- However, we are net bullish about the stock's prospects.
Today's article examines British American Tobacco p.l.c's ( BTI ) stock, an asset that has endured a torrid time in the past year, sliding by around 20% .
We last covered British American Tobacco's stock in January 2023, stating that its absolute valuation and dividend yield were best-in-class. Unfortunately, the stock has lost a significant amount of value ever since. Thus, we decided to revise our outlook on British American Tobacco's stock, wherein we discovered a hybrid value opportunity....
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British American Tobacco: A 'Hybrid Value' Opportunity