Deutsche Maintains Buy Rating on British American Tobacco p.l.c. - Depositary Receipt (BTI)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 29 2025
0mins
Should l Buy BTI?
Source: NASDAQ.COM
Analyst Recommendation: Deutsche Bank has reiterated a "Buy" recommendation for British American Tobacco p.l.c. - Depositary Receipt (NYSE:BTI) as of November 28, 2025, with an average one-year price target of $59.49/share, indicating a potential upside of 1.42%.
Institutional Ownership Growth: There has been a notable increase in institutional ownership of BTI, with 901 funds reporting positions, a 6.12% rise from the previous quarter, and total shares owned by institutions increasing by 5.52% to 382,052K shares.
Positive Fund Sentiment: The put/call ratio for BTI stands at 0.61, suggesting a bullish outlook among investors, with several major funds increasing their allocations significantly over the last quarter.
Projected Financial Performance: British American Tobacco p.l.c. is projected to achieve annual revenue of $31,773 million, reflecting a 24.13% increase, with a non-GAAP EPS forecast of 4.87.
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Analyst Views on BTI
About BTI
British American Tobacco p.l.c. is a global multi-category consumer goods business company. The Company provides tobacco and nicotine products. Its segments include the United States, Asia Pacific Middle East and Africa, and Americas and Europe. Its product categories include Vapor, Heating Products (HPs), Modern Oral, Traditional Oral, and Combustible cigarettes. Vapor products are handheld, battery-powered devices that heat a liquid to produce an inhalable aerosol, known as vapor. HPs are devices that use heat to generate a nicotine-containing aerosol, which the user inhales. This category includes Tobacco Heated Products and Herbal Products for Heating (HPH). Modern Oral products are smoke-free oral nicotine products called nicotine pouches, designed for use in the mouth. Traditional oral products include snus and snuff. Its brands include Vuse, glo, Velo, Grizzly, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, Camel, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Canopy Growth Acquisition Progress: Canopy Growth's acquisition plan for MTL Cannabis received 99.97% shareholder support, which is projected to enhance its leadership in the Canadian medical cannabis market and improve supply chain efficiency through the integration of MTL's patient network and cultivation facilities.
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- Financing Details: The financing includes the subscription of 14,027,074 shares at CAD 3.00 per share (totaling CAD 42.08 million) and the exercise of top-up rights for 9,897,356 shares at CAD 2.335854 per share (totaling CAD 23.12 million), culminating in gross proceeds of CAD 65.2 million.
- Market Reaction: Following the investment confirmation, Organigram's stock rose 8.70% in Thursday's premarket trading, reflecting investor optimism about the company's future, while the stock is currently trading 4.8% above its 20-day simple moving average.
- Earnings Outlook: Organigram is set to provide its next financial update on May 11, 2026, with EPS estimates dropping from 22 cents to a loss of 1 cent, while revenue estimates are expected to rise from CAD 45.70 million to CAD 54.67 million, indicating potential value opportunities.
See More
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- Investment Scale: British American Tobacco's C$65.2M private placement for Organigram's Sanity Group acquisition underscores its commitment to emerging markets, likely enhancing Organigram's competitive position.
- Share Subscription: Under the agreement, BAT will subscribe to approximately 14.02 million Organigram shares at C$3.00 each, generating about C$42.1M, which will further solidify its equity stake in Organigram.
- Use of Funds: The proceeds from this financing will be combined with existing cash and up to C$60M in credit facilities from ATB Financial to fund the cash portion of the Sanity acquisition and cover transaction costs, ensuring a smooth acquisition process.
- Market Reaction: Organigram's shares rose by 4.35% in premarket trading, reflecting positive market sentiment towards this investment and acquisition plan, which may enhance the company's long-term growth potential.
See More
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- Significant Financing: Organigram's subscription agreement with BAT will provide the company with a total of C$65 million in funding, including the purchase of 14,027,074 shares at C$3.00 each, indicating strong market support for its acquisition of Sanity Group.
- Equity Structure Adjustment: BAT will receive 2,353,379 common shares and 21,571,051 preferred shares in this transaction, with the preferred shares convertible into common shares without exceeding a 30% ownership threshold, ensuring BAT's influence within the company.
- Regulatory Approval Requirements: The acquisition and private placement investment are subject to multiple regulatory approvals, including from the Toronto Stock Exchange and Organigram's shareholders, highlighting the complexity of the transaction and its implications for corporate governance.
- Strategic Investment Intent: Through this transaction, BAT further solidifies its investment in Organigram, reflecting its long-term optimism about the cannabis market and potentially increasing its control over the company by adding board members.
See More
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- Stock Market Strengths: America’s stock market has various strengths, but it lacks in providing high dividends.
- Seeking High Yield: For investors looking for high yield and income, exploring international markets may be more beneficial.
See More
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- Performance Outlook Confirmation: British American Tobacco reaffirms its fiscal 2026 outlook, expecting adjusted diluted EPS growth of 5% to 8%, indicating that performance will be at the lower end of the constant-currency range.
- Revenue Growth Expectations: The company anticipates revenue growth of 3% to 5% for fiscal 2026, reflecting ongoing market interest in tobacco and nicotine products despite industry challenges.
- Stock Price Dynamics: In pre-market trading, BTI shares were priced at $59.19, up 0.46% from the previous trading day, indicating cautious optimism among investors regarding the company's outlook.
- Market Reaction Analysis: Although the company's outlook is relatively conservative, the slight increase in stock price suggests that the market remains positively inclined towards its stable profitability and future growth potential, potentially attracting more investor attention.
See More
