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Fly News Breaks for March 12, 2018
MO
Mar 12, 2018 | 07:44 EDT
Wells Fargo analyst Bonnie Herzog believes shares of Altria Group are more than pricing in continued volume and share weakness at Marlboro. Share should improve sequentially in Q1 and start to stabilize in Q2, Herzog tells investors in a research note. In addition, a cigarette price increase is expected soon and is one of Altria's "many levers" to drive ongoing margin expansion and faster earnings growth, the analyst adds. She expects Altria to generate double-digit earnings growth each year through 2020 and keeps an Outperform rating on the shares with an $85 price target.
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