J.P. Morgan resumed coverage of British American Tobacco (BAT), Philip Morris International (PMI), and Imperial Brands, citing growth opportunities in the global tobacco and nicotine market. The bank assigned BAT an Overweight rating with a 5,300-pence price target, while giving PMI and Imperial Neutral ratings. It highlighted BAT’s market-share gains in U.S. nicotine pouches and vaping products, forecasting 3.9% comparable sales growth for the company in 2027.
