UBS Remains a Buy on British American Tobacco (BTI)

Group 1 - British American Tobacco p.l.c. (NYSE:BTI) is considered one of the best undervalued UK stocks to invest in, with mixed ratings from analysts [1][2] - UBS has reiterated a Buy rating on BTI with a price target of £52, while RBC Capital maintains a Sell rating with a price target of £36 [1] - The company reaffirmed its fiscal 2026 guidance, expecting revenue growth towards the lower end of the 3% to 5% range and adjusted profits growth of 4% to 6% [2] Group 2 - For the year ended December 31, 2025, BTI added 4.7 million consumers to its smokeless brands, reaching a total of 34.1 million consumers, with smokeless products now accounting for 18.2% of group revenue, an increase of 70 basis points from fiscal 2024 [3] - Reported group revenue fell by 1.0% to £25,610 million due to a 3.1% currency headwind, but grew by 2.1% at constant FX, driven by combustibles in the US and Americas/Middle East, as well as Velo Plus [3]