RBC Capital Downgrades British American Tobacco (BTI) to Underperform From Sector Perform

British American Tobacco plc (NYSE:BTI) is one of the best UK stocks to buy right now. On September 2, RBC Capital downgraded British American Tobacco plc (NYSE:BTI) to Underperform from Sector Perform, raising the price target to 34,003 GBp from 3,000 GBp.

The firm told investors that profit expectations for British American Tobacco plc’s (NYSE:BTI) new categories are “seriously overblown.” It anticipates a lack of scale in the individual categories.

British American Tobacco plc (NYSE:BTI) is a holding company involved in the manufacture and distribution of tobacco products.

The company’s brands include Kent, Dunhill, Lucky Strike, and Pall Mall, and its operations are divided into the following geographical segments: United States, Asia-Pacific and Middle East (APME), Americas and Sub-Saharan Africa (AMSSA), and Europe and North Africa (ENA).

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Disclosure: None. This article is originally published at Insider Monkey.