British American Tobacco "Outperform," Target Price Raised

Source from:  LONDON, July 12 (newratings.com)  07/13/2007

Analysts at Credit Suisse reiterate their "outperform" rating on British American Tobacco Plc (BMT.ETR). The 12-month target price has been raised from 1700p to 1800p. In a research note published this morning, the analysts mention that despite significant unfavourable currency effects, the company's 1H results are expected to indicate robust underlying trading for the period. There is upside potential to British American Tobacco's earnings due to a healthy cost savings momentum and robust price-mix benefits, Credit Suisse adds. The upward revision in the target price reflects a shift in the base year, the analysts say. Enditem