British American Tobacco (BATS, BTI) Extends £1.3bn Buyback and Reaffirms 2026 Guidance – What It Means for the Stock Now
British American Tobacco p.l.c. (LSE: BATS, NYSE: BTI) has packed a lot into December so far: a full‑year 2025 pre‑close trading update, an extended £1.3bn share buyback for 2026, and the sale of most of its stake in India’s ITC Hotels to cut debt. All of this lands after a huge rerating in 2025, raising the obvious question: after a 40–50% share price recovery, is BAT still an income bargain, or mostly “ex‑growth cash cow”? Below is a rundown of the latest numbers, news and analyst forecasts as of 10 December 2025. Share price snapshot: BATS in London, BTI in