Investment House Upgrades BAT to "buy"

Source from:  tr.itsmyiq.com Feb 21, 2008 02/25/2008

Financial analyst Jonathan Fell of Deutsche Bank upgraded British American Tobacco (BATS-GBX) from "hold" to "buy." The target price has been raised from 1,800p to 1,900p. In a research note published Thursday morning, the analyst mentions that the company's share price has fallen in the initial weeks of 2008. British American Tobacco's stock is likely to deliver robust double-digit total returns going forward, the analyst says. British American Tobacco's forthcoming announcement of another cost savings target is likely to underpin the company's high single-digit annual EPS growth target, Deutsche Bank adds. The upward revision in the target price reflects the currency effects, according to the analyst. Enditem