British American Tobacco plc (NYSE:BTI) is included among the 15 Global Dividend Stocks to Diversify Your Portfolio.

On December 10, Morgan Stanley analyst Rashad Kawan raised the firm’s price objective on British American Tobacco plc (NYSE:BTI) to GBp 3,050 from GBp 3,000, maintaining an underweight rating on the stock.

At the same time, Jefferies took a more constructive stance, naming British American Tobacco plc (NYSE:BTI) as its top pick in the global tobacco sector. The firm said its view is based on growing confidence that the company’s shift to a portfolio focused on smoke-free products is sustainable and is not yet fully reflected in the share price.

Jefferies analyst Andrei Andon-Ionita pointed to several factors that support the investment case. These include accelerating market share gains in the US modern oral segment and early signs of improvement in volumes and prices in the US. Vuse’s business and a strong outlook for fuels through 2026. He also highlighted the company’s strong balance sheet, which is seen as providing room for continued and significant cash returns to shareholders.

Andon-Ionita and her team said they are more optimistic than the broader Wall Street consensus about the strength and durability of British American Tobacco’s growth in modern oral products. This view is most pronounced in the United States, where Velo Plus has seen growth of more than 300% in both volume and value and has become the main driver of category expansion. The analyst made the following comment:

“We see further upside from innovation and enforcement in US eVapor, and we also highlight the resilience of the Fuels business, which continues to deliver strong cash flow and margin expansion despite ongoing volume declines.”

British American Tobacco is a multinational group that manufactures and sells cigarettes, tobacco and a range of other nicotine products in global markets.

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