British American Tobacco Q2: 2 Things The Market Misinterpreted

Seeking Alpha All told, despite the sizable price advances since my last writing and the underlying risks, my thesis is that the market is still underestimating the upside potential of t developments reported in its Q2 ER. More specifically, I believe the price rally only factored in the growth potential from new categories. The current cheap valuation (the focus of my last article) still represents an overly pessimistic view of traditional cigarettes. The high dividend vield - a point bulls love to make - ...