British American Tobacco stock: Goldman sees clearer growth path
Published on 11/03/2026 at 18:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth outlook and dividend ahead
- Goldman Sachs upgraded British American Tobacco to Buy and lifted its 12-month target to 5,600 pence.
- The company is due to pay 61.26 pence per share on November 6, while 2026 revenue growth remains guided toward the lower end of 3% to 5%.
- New Category expansion and regulatory risks remain central to the investment case.
British American Tobacco stock is in focus after Goldman Sachs upgraded the tobacco group to Buy from Neutral on Monday, November 2, citing a clearer path toward sustained organic revenue growth. The change adds a new analyst view to BAT's unchanged 2026 outlook and the dividend payment scheduled for Friday.
Goldman points to stronger growth
According to Yahoo Finance, Goldman raised its 12-month price target to 5,600 pence from 5,200 pence. The bank expects organic sales growth to move toward the midpoint of BAT's 3% to 5% guidance range and forecasts about 4% growth in 2027 and 2028.
Goldman identified resilient combustible sales and growth in New Categories as support for the outlook. It also cited regulation, US Food and Drug Administration enforcement and authorization delays as key risks. The bank expects BAT's full-year 2026 trading update in December to show stronger second-half momentum.
Dividend payment comes next
British American Tobacco is scheduled to distribute 61.26 pence per share on Friday, November 6. interactive investor said the payment forms the third leg of BAT's quarterly distribution plan and represents about 1.3 billion pounds in cash returned to shareholders.
Management continues to expect 2026 revenue growth at the lower end of its 3% to 5% constant-currency range, according to the company's investor information and recent market coverage. For investors, the combination of recurring income and a measured near-term growth outlook leaves execution in New Categories and the December update as the next major reference points.
The real-time quote of British American Tobacco stock was 54.51 euros on Lang & Schwarz at 17:52 CET on Tuesday, November 3, 2026.
British American Tobacco
- ISIN: GB0002875804
- Quote: 54.51 euros on Lang & Schwarz, November 3, 2026 at 17:52 CET
- Upcoming dividend: 61.26 pence per share on November 6, 2026
- 2026 revenue outlook: 3% to 5% growth at constant exchange rates, toward the lower end
The broader UK equity backdrop is covered in current FTSE 100 market reports.
More news and analyses on British American Tobacco stock are available in the company coverage.
