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Top Calls
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Company Update � British American Tobacco
(HOLD, maintain)
- GST-induced price hike British American Tobacco (BAT) announced that it has raised its cigarette selling prices by RM0.50/pack on 1st April 2015, subsequent to the newly introduced 6% goods and services tax (GST) effective the same day. While margins may be protected, we think sales volume could suffer. We maintain our HOLD call, which we believe is supported by dividend yields of more than 4%. We slightly lower our TP to RM65.05.
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Other Calls
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