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Fly News Breaks for April 18, 2018
MO
Apr 18, 2018 | 07:02 EDT
Citi analyst Adam Spielman downgraded Altria Group to Neutral and cut his price target for the shares to $70 from $84. E-cigarette JUUL is beginning to disrupt U.S. cigarette industry, Spielman tells investors in a research note. He believes Altria will confirm industry volumes fell underlying 6% in Q1 when it reports next week. Amid declining industry volumes, the analyst sees Altria Group's price-to-earnings ratio remaining depressed.
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