British American Tobacco: I Was Wrong, Growth Is Back (Rating Upgrade)

Core Viewpoint - The latest analysis on British American Tobacco p.l.c. has shifted from Buy and Strong Buy ratings to a Sell recommendation due to concerns over low growth in the New Category and competition from Philip Morris [1]. Company Analysis - British American Tobacco has experienced a decline in growth prospects, particularly in its New Category segment, which is critical for future revenue generation [1]. - The competitive landscape is intensifying, especially with Philip Morris making significant strides in market share and product innovation [1]. Industry Context - The tobacco industry is facing challenges related to evolving consumer preferences and regulatory pressures, which are impacting growth trajectories for traditional tobacco companies [1].