British American Tobacco PLC (LSE:BATS), in line with its peer Imperial Brands, has been in favour in recent months as investors have focused on cash flow rather than declining volumes of cigarette sales.
Volumes are tipped to drop 5.9% in the year just ended by UBS but will be offset by higher prices to leave revenues up by 1.5% with an improving second-half trend.
Sales of non-tobacco products will be something else to note says the Swiss bank, especially how quickly they are or aren't growing.
Organic profits should see a second-half acceleration with underlying profits likely to be up 1.5% over the year and 3.6% in the second half.
The impact of the Russia disposal, however, will mean a 4% decline in statutory earnings per share to 360.5p.
Shares currently are 2,964p and close to their year high.