British American Tobacco stock gains 0.7 percent before investor day
Published on 09/23/2026 at 13:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
British American Tobacco p.l.c. (ISIN GB0002875804) rose 0.7 percent to GBP 41.94 in London on September 23, 2026, as the group approached a two-day US capital markets day. The event is scheduled for September 29 and September 30, 2026, according to Proactive Investors.
BAT targets 3 to 5 percent growth
The central issue for the meeting is whether BAT can convert its shift beyond cigarettes into durable earnings and cash generation. Citi reaffirmed its buy rating before the event and said management is expected to reaffirm medium-term targets of 3 percent to 5 percent organic sales growth and 4 percent to 6 percent profit growth, as reported by Proactive Investors on September 23, 2026.
The longer-term cash objective is more than GBP 50 billion of cumulative free cash flow by 2030. That figure places cash conversion at the center of the equity story, particularly as the company weighs cost savings and shareholder returns against an uncertain US consumer backdrop.
Velo leads the new-product case
Citi identified Velo nicotine pouches as BAT's standout growth asset in the September 23, 2026 report, while heated tobacco remained a weaker area. The contrast matters because BAT's transformation depends not only on reducing cigarette exposure but also on scaling newer categories with sufficient profitability.
The same report said BAT has made smokeless products profitable, accelerated its US modern oral business, revived Vuse vaping and reduced debt since the previous capital markets event in 2024. Citi also sees scope for BAT to raise its Fit2Win cost-savings target to GBP 1 billion by 2030 and potentially introduce a rolling share buyback.
Shares remain below the yearly high
BAT's London price of GBP 41.94 on September 23, 2026, remained below the 52-week high of GBP 50.04 recorded on May 16, 2026, and above the 52-week low of GBP 36.77 reached on October 15, 2025. The distance from the high leaves the investor-day targets as the key test for whether operational progress can support the valuation.
On the London Stock Exchange, BAT shares stood at GBP 41.94 as of September 23, 2026. The price, the 0.7 percent daily gain and the GBP 50.04 to GBP 36.77 52-week range all refer to the London listing.
British American Tobacco at a glance
- Company: British American Tobacco p.l.c.
- ISIN: GB0002875804
- Ticker: BATS
- Trading venue: London Stock Exchange
- Price as of September 23, 2026: GBP 41.94
- Sector / Industry: Consumer Staples / Tobacco
- Index membership: FTSE 100
