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Analysts still positive on BAT despite hurdles

Ahmad Naqib Idris
Ahmad Naqib Idris9/24/2018 07:30 AM GMT+08  • 5 min read
Analysts still positive on BAT despite hurdles
SINGAPORE (Sept 24): Despite the hurdles ahead for British American Tobacco (Malaysia)  (BAT) — a price hike after the implementation of the Sales and Services Tax (SST), growing illicit market and general decline in its earnings — many analysts are
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SINGAPORE (Sept 24): Despite the hurdles ahead for British American Tobacco (Malaysia) (BAT) — a price hike after the implementation of the Sales and Services Tax (SST), growing illicit market and general decline in its earnings — many analysts are still maintaining their “buy” rating on the stock.

According to Bloomberg, eight research houses (including Credit Suisse, RHB, ­Affin Hwang, CIMB and MIDF Research), have “buy” calls on BAT — double the number of “sell” calls (Kenanga, Macquarie, TA Securities and EVA Dimensions). Three analysts maintain a “hold”.

Most of the research houses with “buy” calls are banking on the Pakatan Harapan (PH) government’s promise of increased enforcement to combat the illicit trade.

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