UBS Downgrades BAT Rating to "Neutral" in Recent Report

BAT by 2FIRSTS.ai
Jan.24.2024
UBS Downgrades BAT Rating to "Neutral" in Recent Report
UBS downgrades BAT's rating from "buy" to "neutral" and lowers target price from 2900p to 2400p due to doubts regarding revenue targets.

German news agency dpa-AFX Analyzer reported on January 22nd that UBS has recently downgraded its rating on British American Tobacco (BAT) from "buy" to "neutral", while also lowering the stock price target from 2900 pence to 2400 pence.

 

In the latest research report, analyst Faham Baig from the bank mentioned that British American Tobacco has adopted multiple strategies to address the gradual transformation in the tobacco industry, and to some extent, these strategies have been successful. However, he noted that the company's performance has been inconsistent in executing these strategies. He expressed doubt about the company's revenue target set for 2025 in the "new business areas," believing that it may be challenging to achieve.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

China Caps E-Cigarette Capacity and Requires Export Compliance Proof to Curb “Involution”
China Caps E-Cigarette Capacity and Requires Export Compliance Proof to Curb “Involution”
China’s top tobacco regulator has issued a directive aimed at preventing excess capacity and curbing “involution-style” competition in the e-cigarette sector. The notice tightens investment controls, formalizes verified capacity management and requires exporters to submit compliance proof for destination markets, signaling a push toward higher industry concentration and stricter cross-border oversight.
Special Report
Feb.13
Thailand police seize 17,320 disposable vapes valued at over USD 22,330 in Nonthaburi
Thailand police seize 17,320 disposable vapes valued at over USD 22,330 in Nonthaburi
Thai authorities arrested a 31-year-old man in Bang Bua Thong, Nonthaburi, on January 20, 2026, and seized 17,320 disposable e-cigarettes and a pickup truck. The seized goods were valued at more than THB 7 million (about USD 223,349.62).
Jan.21 by 2FIRSTS.ai
Oklahoma DOC to allow inmates to buy nicotine vapes and pouches in 2026
Oklahoma DOC to allow inmates to buy nicotine vapes and pouches in 2026
Oklahoma’s Department of Corrections says it will begin allowing inmates to buy single-use nicotine vapes and nicotine pouches through prison canteens in 2026, framing the move as a strategy to reduce contraband-driven debts and prison violence. Officials say inmates will be barred from using personal nicotine products, the devices will be disposable and non-cartridge-based, and the program will be self-funded through inmate purchases rather than taxpayer money.
Feb.05 by 2FIRSTS.ai
Haypp Reports 15% Q4 Sales Growth as Nicotine Pouch Volumes Rise
Haypp Reports 15% Q4 Sales Growth as Nicotine Pouch Volumes Rise
Haypp Group announced that net sales for October–December 2025 rose 15% year-on-year to SEK 1,052.2 million, or 19% in constant currency terms. The company recorded 28% volume growth in the nicotine pouch category during the quarter. The number of orders increased to 1.34 million, and active consumers rose to 630,000, marking the highest level in the company’s history. CEO Gavin O’Dowd said the company’s accelerating topline performance in the US and UK positions it for a strong 2026.
Market
Feb.22
Philip Morris and BAT’s Nicoventures Win EPO Appeal to Revoke VMR Vape Patent
Philip Morris and BAT’s Nicoventures Win EPO Appeal to Revoke VMR Vape Patent
The EPO Technical Board of Appeal 3.2.02 (T 1319/24) revoked VMR Products LLC’s EP3613453 “VAPORIZER” patent after finding that a 2012 YouTube video of the Innokin iTaste VV (D3) disclosed the claimed electrical contact arrangement. Opponents Nicoventures Trading Ltd (BAT subsidiary) and Philip Morris Products S.A. prevailed.
BATPMI
Feb.17
Product | “Prefilled + Refill” Combo, Up to 30,000 Puffs Claimed: DOJO BLAST 30K PRO Launches in the UK and France
Product | “Prefilled + Refill” Combo, Up to 30,000 Puffs Claimed: DOJO BLAST 30K PRO Launches in the UK and France
DOJO has launched the upgraded BLAST 30K PRO on its official website. The device features a (2+8) ml ×2 “2 ml prefilled pod + 8 ml refill” configuration, delivering 20 ml of e-liquid per kit and claiming up to 30,000 puffs. It is also labeled as fully compatible with BLAST 10K Pods.
Jan.12 by 2FIRSTS.ai