The document is a financial analysis by Deutsche Bank on British American Tobacco (BAT), highlighting a 50% total shareholder return (TSR) over the next two years. Key drivers include strong organic EBITDA growth, debt paydown, and an attractive dividend. The analysis also discusses potential impacts of US tax reform and FDA regulations on nicotine content. The document includes tables on EBITDA growth and fiscal year projections.
doj/DataSet10/EFTA01385505.pdf
{"title":"Deutsche Bank Research European Equity Focus","key_people":["Gerry Gallagher"],"document_date":"2015-01","document_type":"tabular","document_subtype":"financial analysis","key_organizations":["Deutsche Bank","British American Tobacco","FDA"],"reference_numbers":["DB-SDNY-0086791","SDNY_GM_00232975","EFTA01385505"]}