whitebalance.oatt BTI's Investment Thesis Remains Tempting As We Enter H2'24  We previously covered British American Tobacco p.l.c. (NYSE:BTI) in April 2024, discussing its robust FY2023 financial metrics as the New Category segment achieved the first year of positive margins. Combined with the growing Free Cash Flow generation, healthier balance sheet, partial monetization of its ITC stake for share repurchases, and inherent undervaluation, we believed that the stock continued to offer a compelling inv ...