Shares of ITC and other cigarette makers soared up to 7 per cent in the morning trade on Friday amid reports foreign brokerage CLSA has maintained a ‘buy’ rating on ITC with a 12-month target price of Rs 325. Shares of the cigarette major jumped 7.75 per cent to hit a high of Rs 289 on BSE. At this price, the stock was trading 35.22 times its trailing 12 months earnings per share. For ITC, if the outlook on taxation front is slightly more clear, that would lead to this company bridging the gap in multiples.The GST council has decided to allow for cess of up to 290 per cent in addition to another possible levy of Rs 4,170 per 1,000 sticks, TOI reported. Soft drinks and soft drinks and mineral water will face up to 15 per cent levy on top of the 28 per cent GST rate.