British American tobacco equity research - still, thank you for smoking

Detalhes bibliográficos
Autor(a) principal: Bauch, Bjoern
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/127202
Resumo: This thesis presents an equity valuation of British American Tobacco Plc. (BAT), a London based manufacturer of cigarettes, tobacco, and additional nicotine products. We see an investment opportunity for short-term oriented investors by setting the FY 21 target price at £ 35.00, thus a TSR of 38%. However, in the long term, we consider the raising awareness of ESG, as well as our forecasted failure of BAT’s transformation into a considerably more sustainable company, to be dark clouds on the horizon. We adjust our DCF model through an ESG assessment towards the market-based valuation. To this end, we developed an ESG Scoreboard to account for all ESG related material issues. The scoring results are applied in our scenario analysis as well as our revenue forecast, and cost of capital.
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spelling British American tobacco equity research - still, thank you for smokingEquity valuationEsgBatTobaccoDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis thesis presents an equity valuation of British American Tobacco Plc. (BAT), a London based manufacturer of cigarettes, tobacco, and additional nicotine products. We see an investment opportunity for short-term oriented investors by setting the FY 21 target price at £ 35.00, thus a TSR of 38%. However, in the long term, we consider the raising awareness of ESG, as well as our forecasted failure of BAT’s transformation into a considerably more sustainable company, to be dark clouds on the horizon. We adjust our DCF model through an ESG assessment towards the market-based valuation. To this end, we developed an ESG Scoreboard to account for all ESG related material issues. The scoring results are applied in our scenario analysis as well as our revenue forecast, and cost of capital.Sá, Nuno Vasconcellos eRUNBauch, Bjoern2024-01-04T01:31:02Z2021-01-122021-01-042021-01-12T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/127202TID:202741249enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:07:18Zoai:run.unl.pt:10362/127202Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:46:04.804282Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv British American tobacco equity research - still, thank you for smoking
title British American tobacco equity research - still, thank you for smoking
spellingShingle British American tobacco equity research - still, thank you for smoking
Bauch, Bjoern
Equity valuation
Esg
Bat
Tobacco
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short British American tobacco equity research - still, thank you for smoking
title_full British American tobacco equity research - still, thank you for smoking
title_fullStr British American tobacco equity research - still, thank you for smoking
title_full_unstemmed British American tobacco equity research - still, thank you for smoking
title_sort British American tobacco equity research - still, thank you for smoking
author Bauch, Bjoern
author_facet Bauch, Bjoern
author_role author
dc.contributor.none.fl_str_mv Sá, Nuno Vasconcellos e
RUN
dc.contributor.author.fl_str_mv Bauch, Bjoern
dc.subject.por.fl_str_mv Equity valuation
Esg
Bat
Tobacco
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Equity valuation
Esg
Bat
Tobacco
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This thesis presents an equity valuation of British American Tobacco Plc. (BAT), a London based manufacturer of cigarettes, tobacco, and additional nicotine products. We see an investment opportunity for short-term oriented investors by setting the FY 21 target price at £ 35.00, thus a TSR of 38%. However, in the long term, we consider the raising awareness of ESG, as well as our forecasted failure of BAT’s transformation into a considerably more sustainable company, to be dark clouds on the horizon. We adjust our DCF model through an ESG assessment towards the market-based valuation. To this end, we developed an ESG Scoreboard to account for all ESG related material issues. The scoring results are applied in our scenario analysis as well as our revenue forecast, and cost of capital.
publishDate 2021
dc.date.none.fl_str_mv 2021-01-12
2021-01-04
2021-01-12T00:00:00Z
2024-01-04T01:31:02Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/127202
TID:202741249
url http://hdl.handle.net/10362/127202
identifier_str_mv TID:202741249
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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