BAT stock trades at EUR 48.87 as BAT sets 2030 targets

Published on 09/30/2026 at 12:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BAT stock faces a 5.00-8.00 percent adjusted EPS growth range for FY26 after the September 29, 2026 Capital Markets Day. New Category margin is targeted at 30.00 percent by 2030.

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BAT stock (ISIN GB0002875804) was trading at EUR 48.87 at Lang & Schwarz on September 30, 2026 at 12:33 p.m. CEST, up 0.70 percent versus the prior close of EUR 48.53. The company's September 29 Capital Markets Day kept its 2030 strategy centered on smokeless products and retained its full-year 2026 growth framework, according to BAT.

Growth guidance stays intact

For fiscal year 2026, BAT is targeting revenue growth of 3.00-5.00 percent and adjusted profit from operations growth of 4.00-6.00 percent, both at constant rates. Adjusted diluted EPS growth is expected toward the middle of a 5.00-8.00 percent range, giving investors a clear framework for measuring the transition beyond combustibles.

The same release sets a target leverage range of 2.00-2.50 times by year-end. BAT also expects a 2.00-2.50 percent foreign-exchange headwind to FY26 adjusted diluted EPS growth at current spot rates, a quantified counterweight to the operating plan.

New categories drive the thesis

BAT's latest operating momentum is concentrated in New Categories. A September 29 summary from Quartr reports that H1 2026 revenue rose 2.90 percent, New Category revenue increased 18.00 percent and adjusted EPS grew 7.90 percent.

BAT expects New Category revenue to grow at a mid-teens annual rate through 2030, while contribution margin should reach at least 30.00 percent. That combination makes margin conversion as important as sales growth because the company is funding expansion while preserving cash generation from its established portfolio.

UBS trims target before the event

On September 2, 2026, UBS retained its Buy rating but reduced its target from GBp 5,750.00 to GBp 5,600.00, according to MarketScreener. The adjustment shows that the strategy has to translate into measurable earnings progress even as the rating remains positive.

On the London Stock Exchange, BAT was last at GBp 4,144.00 on September 29, 2026 at 5:09 p.m. GMT. The stock's 52-week range was GBp 3,677.00 to GBp 5,326.00, placing the latest London quote between its annual low and high.

BAT stock holds above prior close

At Lang & Schwarz, BAT stock was trading at EUR 48.87 on September 30, 2026 at 12:33 p.m. CEST, plus 0.70 percent versus the prior close of EUR 48.53. The reference price reflects the German trading perspective, while the London quote and GBp targets provide separate primary-market context.