View: Why ITC needs to read the tobacco leaves now
After being the butt of a million savage internet memes, last Tuesday decided to talk: For the first time in the history of the coffee-to-cigarette conglomerate, to its institutional shareholders, spelling out what to expect “next.” But the narrative of Capex and investments in new businesses, of dividends, demergers, and derisking is nothing new but like stale smoke in the room.