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# I've Been Bearish On British American Tobacco For Years But Now I'm Changing My Mind (Archive)
- URL: https://www.huntingalphas.com/ive-been-bearish-on-british-american-tobacco-for-years-but-now-im-changing-my-mind-archive/
- Published: 2025-03-19T13:14:00.000Z
- Updated: 2026-02-28T14:56:53.000Z
- Description: Turning long-held BTI bearishness into a high-conviction, value-backed Buy thesis.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, BATS, Consumer Staples

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- BTI missed revenue estimates but is on the right track in transitioning away from combustibles at an accelerating clip.
- EBIT margins have improved due to higher profitability in new categories and cost savings, with further margin levers ahead in FY25 and over the next 5 years.
- Valuations are attractive, trading at a discount to peers, supported by rising earnings expectations.
- BTI vs SPX500 technicals point bullish, indicating outperformance potential over the next few quarters.
- Provision expenses from litigations against BTI's Canadian subsidiary is a key risk to monitor as there is no minimum liability.

Read the full article [here](https://seekingalpha.com/article/4768729-ive-been-bearish-on-british-american-tobacco-for-years-but-now-im-changing-my-mind-rating-upgrade?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*