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Fly News Breaks for January 7, 2019
BTI
Jan 7, 2019 | 09:07 EDT
As reported previously, Cowen analyst Vivien Azer downgraded British American Tobacco (BTI) to Market Perform from Outperform. The analyst is growing increasingly cautious on the outlook for combustible cigarettes in the U.S. as her model suggests cigarette industry volumes will likely fall at an 8% CAGR between 2018-2025 with price not serving as an adequate offset. Azer also downgraded the Altria Group (MO) to Market Perform from Outperform this morning.
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