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MO

Altria Group

09:30
09/28/17
09/28
09:30
09/28/17
09:30

Wells Fargo recommends buying Altria Group ahead of catalysts

Wells Fargo notes that Altria Group's stock has pulled back sharply since the FDA's announcement and has remained pressured given concerns about Marlboro share softness and volume trends. The firm says its valuation is now at a 2-year low, reflecting minimal credit for potential U.S. corporate tax reform which could lower the top rate to 25%, increased leverage and stepped up buybacks, U.S. commercialization of iQOS as soon as February 2018, and/or further industry consolidation. Wells Fargo urges long-term investors to build positions and believes the risk/reward is favorable ahead of the company's Q3 results.

MO Altria Group

09/21/17
STFL
09/21/17
NO CHANGE
Target $72
STFL
Buy
Altria cigarette price hike earlier, larger than expected, says Stifel
Stifel analyst Christopher Growe noted that Altria just announced its second cigarette price increase this year. The rise of 10c per pack was 2c per pack more than he expected and came two months earlier than the company's typical November hike. With volumes declining at an accelerated pace in 2017, due in particular to the large excise tax increase in California, he sees the accelerated rate of price increases as encouraging and thinks it reflects both consolidation in the industry and a desire to reinvest back into the business. He keeps a Buy rating and $72 price target on Altria shares.
09/26/17
COWN
09/26/17
UPGRADE
COWN
Outperform
Altria Group upgraded to Outperform from Market Perform at Cowen
09/26/17
COWN
09/26/17
UPGRADE
Target $71
COWN
Outperform
Altria Group upgraded to Outperform at Cowen
As reported previously, Cowen analyst Vivien Azer upgraded Altria Group to Outperform from Market Perform citing its notable pullback following the late July FDA announcement and a bigger than expected price increase which reinforces the durability of its earnings growth. Azer raised her price target to $71 from $64 on Altria shares.
09/26/17
09/26/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Neutral from Sell at UBS with analyst Doug Mitchelson saying the risk/reward is balanced with the shares down 22% year-to-date. 2. Altria Group (MO) upgraded to Outperform from Market Perform at Cowen with analyst Vivien Azer citing its notable pullback following the late July FDA announcement and a bigger than expected price increase which reinforces the durability of its earnings growth. 3. L Brands (LB) upgraded to Overweight from Neutral at Atlantic Equities with analyst Daniela Nedialkova saying recent Victoria Secret visits are highly encouraging with a number of changes that should drive a positive inflection in comps over the next several months. 4. Boston Beer (SAM) upgraded to Neutral from Underperform at Credit Suisse with analyst Laurent Grandet saying the market sentiment remains "overly negative," which creates a more balanced spread between upside and downside scenarios. 5. British American Tobacco (BTI) upgraded to Outperform from Market Perform at Cowen with analyst Vivien Azer saying she views the weakness from FDA risk and foreign exchange movements as having created an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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BAND

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CLI

Mack-Cali Realty

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CLI

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MIC

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ILG

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TGB

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BAND

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SM

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SM

SM Energy

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Pandora

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SM

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P

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LNCE

Snyder's-Lance

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OKE

Oneok

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17:20
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GXP

Great Plains Energy

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MIC

Macquarie Infrastructure

$63.62

-0.75 (-1.17%)

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MIC

Macquarie Infrastructure

$63.62

-0.75 (-1.17%)

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Earnings
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CAKE

Cheesecake Factory

$46.22

0.61 (1.34%)

17:18
02/21/18
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Earnings
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  • 21

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UTX

United Technologies

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2.8 (2.21%)

17:17
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