Every Sunday, we run a poll on the hottest subject in the Tobacco Industry. Hundreds of our Twitter/X followers vote, offering a collective wisdom on the subject matter or an immediate pulse on the market/industry developments.
Results of the Sunday polls:
What will you scrutinize first & foremost in British American Tobacco (BAT) H1 Trading Update (June 2, Tuesday)?
– New category performance (VELO, VUSE, glo): 52%
– FY26 guidance: 29%
– Capital allocation: 14%
– U.S. cigarette volume/pricing: 5%
Which tobacco major will deliver the best total shareholder return (share price appreciation + dividends) over the next 12 months?
– British American Tobacco: 54%
– Philip Morris International: 19%
– Altria: 15%
– Imperial Brands: 12%
At $68, Altria shares are…
– Fairly valued: 62% (+16pp)
– Undervalued: 23% (-20pp)
– Overvalued: 15% (+3pp)
At $68, Altria shares are…
– Fairly valued: 46% (+2pp)
– Overvalued: 34% (-5pp)
– Undervalued: 20% (+3pp)
At $166, Philip Morris International (PMI) shares are…
– Fairly valued: 53% (+8pp)
– Overvalued: 27% (-17pp)
– Undervalued: 20% (+9pp)
Why Altria is the best performing major tobacco stock in 2026?
– Cheap → catch-up trade: 46%
– Ultimate safe haven: 23%
– Improved fundamentals: 15%
– Market mispricing: 15%
Which tobacco company would you never invest in – no matter how attractive the valuation?
– Altria: 39%
– Japan Tobacco: 34%
– Imperial Brands: 14%
– British American Tobaco: 13%
Result: Altria leads at 39%, followed by Japan Tobacco (34%) in “never invest” votes, with no change among the most avoided names. Notably, Imperial drops 13pp to 14%, while BAT remains the least avoided at 13% despite a 3pp increase
What will you scrutinize first & foremost in Philip Morris International Q1 2026 results (April 22)?
– ZYN volume/pricing: 47%
– Financials/Guidance (Revenue, EPS, operating margin, adjustments): 22%
– Heated tobacco growth: 19%
– IQOS USA update: 13%
The U.S. FDA’s slower, more cautious review of nicotine pouch applications is _____ for major tobacco companies.
– Neutral: 32%
– Negative: 29%
– To early to tell: 21%
– Positive: 18%
Tobacco Pulse Surveys: Q1 2026
Tobacco Pulse Surveys: Q4 2025
Tobacco Pulse Surveys: Q3 2025
Tobacco Pulse Surveys: Q2 2025
Tobacco Pulse Surveys: Q1 2025
Tobacco Pulse Surveys: Q4 2024
Tobacco Pulse Surveys: Q3 2024
Tobacco Pulse Surveys: Q2 2024
