British American Tobacco: Pathways To Growth, High Yield, And Strong FCF Remain Attractive

Funtay UK cigarette retail sales trends continue to be weak. That's no big surprise, and it's the general trend seen around the world. British American Tobacco (NYSE:BTI) sees tepid sales growth as the large-cap company aims to refocus on next-generation products, including vaping, heated tobacco, and modern oral products. For now, I reiterate my buy rating on BTI. I continue to see the stock as undervalued with high free cash flow. A GBP 25 billion impairment charge announced in early December 2023 was ini ...