BAT stock tracks Horizon 2030 growth plans on LSE
Published on 10/04/2026 at 10:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
BAT stock was last at GBp 3,960 on the London Stock Exchange on October 2, 2026 at 4:35 p.m. London time, down 0.60% from the prior close. The immediate company catalyst was BAT's September 29, 2026 Capital Markets Day, where management presented its Horizon 2030 strategy and reaffirmed full-year guidance.
Horizon 2030 sets growth targets
According to the Financial Times company announcement dated September 29, 2026, BAT expects New Category revenue to grow at a mid-teens rate through 2030 and aims for a contribution margin of at least 30%.
The same announcement says BAT remains on track for the lower end of 3-5% revenue growth and 4-6% adjusted profit from operations growth in FY26. Adjusted diluted EPS growth is expected toward the middle of the 5-8% range, all at constant rates and adjusted for Canada.
Analyst target moves higher
As MarketBeat reported on October 1, 2026, Jefferies raised its BAT price target from GBp 5,500 to GBp 5,600 and maintained a buy rating. The target is GBp 1,640 above the October 2 price, while the same report cited four buy ratings, one hold and one sell among the analysts it tracked.
The market's calculation is straightforward: the company's growth ambition is increasingly tied to smokeless products rather than a volume recovery in traditional cigarettes. BAT said on September 29, 2026 that Smokeless brands had 35.0 million adult consumers as of June 30, 2026 and accounted for 19.8% of Group revenue, figures published in the Financial Times announcement.
Stock stays below yearly high
BAT stock's October 2 reference price sat within a 52-week range of GBp 3,677 to GBp 5,368, and trading volume reached 3,646,479 shares. The 0.60% daily decline keeps the share below the upper end of that range, even as Jefferies' higher target points to a materially different valuation view.
BAT's investor page identifies the six months to June 30, 2026 as its latest half-year reporting period, published on July 30, 2026, according to British American Tobacco. The key checkpoint is whether the new-category expansion can support the stated margin and earnings ranges while regulation, taxes and illicit trade remain explicit risks in the September 29 announcement.
BAT stock follows the strategy shift
BAT stock was last at GBp 3,960 on October 2, 2026 at 4:35 p.m. London time. The share price, the 52-week range and the revised Jefferies target frame the current debate around BAT's transition toward smokeless growth.
BAT stock at a glance
- Company: British American Tobacco p.l.c.
- ISIN: GB0002875804
- Ticker: BATS
- Trading venue: London Stock Exchange
- Price (as of October 2, 2026, 4:35 p.m. London time): GBp 3,960 (last at)
- 52-week range: GBp 3,677-5,368 (as of October 2, 2026)
- Sector / Industry: Consumer Staples / Tobacco
- Index membership: FTSE 100
