Citi analyst Adam Spielman upgraded Altria Group to Neutral from Sell with a price target of $46, up from $45. The stock closed Thursday up 77c to $44.28. The analyst now expects "less bad" cigarette volumes next year. Electronic vapor usage will fall due to the negative publicity around vaping and the imminent flavor ban, which will help cigarettes, Spielman tells investors in a research note. Further, with Altria shares below his price target, the analyst no longer thinks the stock looks expensive relative to overseas peers. With that said, Spielman still expects the short-term news flow, both on FDA regulation and earnings, "to be difficult."