What is BTI stock price target for 2026?

WallStSmart's 12-month price target for British American Tobacco p.l.c. is $59.39, representing 1.0% upside from the current price of $58.80.

What is BTI stock forecast?

British American Tobacco p.l.c. forecast includes bull, base, and bear case scenarios from 2026 through 2030. Revenue and EPS projections are derived from analyst consensus and conservative extrapolation with growth deceleration for outer years.

Is BTI undervalued based on price targets?

Our DCF intrinsic value for British American Tobacco p.l.c. is $79.05, against a current price of $58.80. The margin of safety is 23.68%.

BTI

British American Tobacco p.l.c.

NYSE: BTI · CONSUMER DEFENSIVE · TOBACCO

$58.80

+2.34% today

Updated 2026-04-30

Market cap

$127.25B

P/E ratio

12.46

P/S ratio

4.97x

EPS (TTM)

$4.72

Dividend yield

5.68%

52W range

$38 – $62

Volume

4.7M

Market cap

$127.25B

P/E ratio

12.46

P/S ratio

4.97x

EPS (TTM)

$4.72

Dividend yield

5.68%

52W range

$38 – $62

Volume

4.7M

British American Tobacco p.l.c. (BTI) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current

$58.80

Consensus

$62.00

+5.45%

2030 Target

$169.01

+187.46%

DCF

$79.05

+23.68% MoS

Current price

$58.80

Analyst consensus

$62.00

+5.45%

2030 Target

$169.01

+187.46%

Intrinsic (DCF)

$79.05

+23.68% MoS

2 analysts:

2 Buy1 Hold1 Sell

Management guidance

BTI reaffirmed 2026 guidance with low-single-digit revenue growth expectations. Management stated target of over 50% revenue from next-generation products (NGP) by 2035, indicating strategic shift toward smokeless/vaping categories to offset traditional cigarette declines. No specific absolute revenue targets disclosed for 2026-2030 period.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range

Bull case (2030)

$279.74

$30.2B Rev × 20x P/S

Base case (2030)

$169.01

$30.2B Rev × 12x P/S

Bear case (2030)

$110.73

$30.2B Rev × 8x P/S

Financial forecast — research-backed

Metric	2023	2024	2025	2026 (E)	2027 (E)	2028 (E)	2029 (E)	2030 (E)
Revenue	$27.3B	$25.9B	$25.6B	$26.6B	$27.5B	$28.4B	$29.4B	$30.2B
Revenue growth	—	-5.2%	-1.0%	3.7%	3.6%	3.4%	3.2%	2.9%
EPS	$377.99	$199.64	$4.59	$3.64	$3.91	$4.19	$4.47	$4.74
P/S ratio	—	—	—	12.0x	12.0x	12.0x	12.0x	12.0x
Implied price	—	—	—	$145.70	$151.53	$157.36	$163.18	$169.01

Catalysts & risks

Growth catalysts

+ Acceleration of next-generation products (Velo nicotine pouches, Vuse vaping) offsetting cigarette declines

+ Successful execution of £1.3B share buyback program in 2026 supporting EPS growth

+ Resolution of regulatory headwinds (UK menthol ban dropped in 2025, but generational tobacco ban progressing)

+ Geographic expansion in emerging markets with strong smokeless product adoption

Key risks

- UK generational tobacco ban and US FDA restrictions on flavored e-cigarettes creating regulatory headwinds

- Structural decline in traditional cigarette volumes offsetting NGP growth gains

- Illicit trade and taxation pressures in developing markets (Bangladesh, East Africa)

- Sustained margin compression if NGP categories priced lower than traditional tobacco

Methodology

British American Tobacco p.l.c.'s forward estimates are derived from AI-powered research synthesis combining analyst consensus from 2 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.