This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
British American Tobacco Page 2
British American Tobacco (BATS) / Defensives
Will shares break down below the channel floor at 4700p or rally back to the highs of 5000p?
- Shares are at the floor of their 2-month trading range
- RSI testing 12-month rising lows
- Momentum negative; at a 9-month low
- Stochastics oversold
Broker Consensus: 40% Buy, 48% Hold, 12% Sell
Bullish: Goldman Sachs, Buy/Neutral, Target 5300p, +13% (28 Jul)
Average Target: 5039p, +7% (1 Sep)
Bearish: RBC Capital Markets, Underperform, Target 4000p, -15% (5 Aug)
N.B. All pricing and consensus data was sourced from Bloomberg on 1 Sep. Please contact us for a full, up to date rundown.
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Prepared by Michael van Dulken, Head of Research
