UPDATE: Jefferies Raises PT on British American Tobacco on Strong FY-12 Results

In a report published Friday, Jefferies reiterated its Buy rating on British American Tobacco (NYSE: BTI ), and raised its price target from $116.60 to $120.50. Jefferies noted, “A strong set of FY-12 results has laid a foundation for further top and bottom-line growth through 2013 and beyond. An improving