1340 GMT - The rise of next-generation smoking products such as vapes and nicotine pouches will drive the next phase of British American Tobacco's growth, Jefferies analysts Andrei Andon-Ionita and Edward Mundy write. "Next generation products have become well-invested propositions with ample scale in the key U.S. market, and could drive 50% of group top-line growth in the medium term," the analysts say. The business is attractively valued and current valuations represent a compelling entry point for the shares, they add. Jefferies has a buy rating on the stock and a price target of 55.00 pounds. Shares are flat, trading at 41.83 pounds.