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MO

Altria Group

$62.68

-1.13 (-1.77%)

, BTI

British American Tobacco

$62.20

0.82 (1.34%)

11:47
10/06/17
10/06
11:47
10/06/17
11:47

Nicotine study could pressure tobacco stocks, says Wells Fargo

Dr. Dorothy Hatsukami's 1,250 patient, 20 week Phase III study, which suggested an immediate reduction in nicotine levels by the FDA would be more effective than a gradual reduction in terms of discouraging compensatory behavior, could create near-term headline risk for tobacco stocks, Wells Fargo analyst Bonnie Herzog tells investors in an intraday research note after XXII Century Group announced the results. Investors may worry the data could precipitate sharper declines in combustible cigarette volumes, the analyst contends. She continues to believe, however, that such an outcome would only accelerate conversion to reduced-risk products such as iQOS, which she notes does not appear to have been a part of the study. Publicly traded companies in the tobacco space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).

MO

Altria Group

$62.68

-1.13 (-1.77%)

BTI

British American Tobacco

$62.20

0.82 (1.34%)

PM

Philip Morris

$111.00

-0.545 (-0.49%)

MO Altria Group
$62.68

-1.13 (-1.77%)

10/02/17
WELS
10/02/17
UPGRADE
WELS
Outperform
Great Plains Energy upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Sarah Akers upgraded both Great Plains Energy (GXP) and Westar Energy (WR) to Outperform saying the merger has a high likelihood of regulatory approval. The analyst believes the shares are "modestly undervalued" and sees further upside potential should Altria Group (MO) and/or KapStone (KS) become "more supportive of new investments over time." Akers has a $33 price target for Great Plains shares.
09/28/17
WELS
09/28/17
NO CHANGE
WELS
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.
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.
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.
BTI British American Tobacco
$62.20

0.82 (1.34%)

09/26/17
COWN
09/26/17
UPGRADE
COWN
Outperform
British American Tobacco upgraded to Outperform from Market Perform at Cowen
08/30/17
MSCO
08/30/17
NO CHANGE
MSCO
Overweight
British American Tobacco recent weakness appears overdone, says Morgan Stanley
Morgan Stanley analyst Matthew Grainger said he views some degree of weakness in U.S. and European tobacco stocks since "FDA Friday" - when the agency announced plan to pursue reduced nicotine content in cigarettes - as warranted, but he views the impact on British American Tobacco (BTI) as being overstated by the stock's 11% pullback. For Altria Group (MO), which is down 14% since that day, he sees the move as having returned the stock to appropriate valuation levels, he added. Grainger lowered his price target for Altria to $65 from $68, kept his Philip Morris (PM) price target of $120 unchanged and maintains his British American target at GBP60.
PM Philip Morris
$111.00

-0.545 (-0.49%)

09/06/17
PIPR
09/06/17
NO CHANGE
Target $135
PIPR
Overweight
Piper positive on Philip Morris after iQOS checks in Europe
Piper Jaffray analyst Michael Lavery says his European channel checks show strong momentum on iQOS, Philip Morris' heated tobacco product. Visits to Serbia, Russia, and Poland indicated iQOS has a better than expected presence, Lavery tells investors in a research note. The analyst is more bullish on the company's potential for incremental earnings from iQOS and continues to believe his earnings estimates for Philip Morris are likely to be conservative. Lavery raised his price target for the shares to $135 from $134 and keeps an Overweight rating on the name.
09/28/17
09/28/17
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. McDonald's (MCD) upgraded to Buy from Neutral at Longbow with analyst Alton Stump citing better than expected third quarter U.S. comparable store sales trends. 2. Philip Morris (PM) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Judy Hong saying the company offers a "rare innovation product cycle story within Staples" along with the strongest global positioning in next generation products. 3. BlackRock (BLK) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Alexander Blostein saying he expects an acceleration in annual operating income growth given improving trends in active, easing pressures on blended fee rates, and scaling of its tech platform which should lead to sustainable multiple improvement. 4. Potbelly (PBPB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Nicole Miller Regan saying she believes a "compelling" turnaround is building. 5. Huntsman (HUN) upgraded to Outperform from Market Perform at Wells Fargo with analyst Frank Mitsch saying the recent weakness in the shares is a buying opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/26/17
COWN
09/26/17
UPGRADE
COWN
Outperform
British American Tobacco upgraded to Outperform at Cowen
As reported previously, Cowen analyst Vivien Azer upgraded British American Tobacco (BTI) to Outperform from Market Perform as she views the weakness from FDA risk and foreign exchange movements as having created an attractive entry point. She said given its consistent market share gains and earnings growth, the stock's discount to Philip Morris (PM) looks overdone.
09/28/17
GSCO
09/28/17
UPGRADE
Target $135
GSCO
Conviction Buy
Philip Morris upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Philip Morris (PM) to Conviction Buy and reiterates the stock as her top pick in within tobacco. The company offers a "rare innovation product cycle story within Staples" along with the strongest global positioning in next generation products, Hong tells investors in a research note where she also upgraded Brown-Forman (BF.B) to Neutral. The analyst views Philip Morris' IQOS as a "game-changer for Global Tobacco." She raised her price target for the shares to $135 from $133. Hong also highlights Mondelez (MDLZ), Estee Lauder (EL) and Kimberly-Clark (KMB) as top multinational picks.

TODAY'S FREE FLY STORIES

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ATRS

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SHIP

Seanergy Marine

$1.24

0.0199 (1.63%)

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HLI

Houlihan Lokey

$41.56

0.18 (0.43%)

17:49
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Breaking Syndicate news story on Houlihan Lokey »

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GEO

Geo Group

$26.20

0.2 (0.77%)

17:48
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Breaking Syndicate news story on Geo Group »

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    Dec

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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DBV sinks following peanut allergy trial miss, Aimmune soars »

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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  • 06

    Nov

KALV

KalVista

$11.26

1.99 (21.47%)

, DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:24
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On The Fly: After Hours Movers »

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KALV

KalVista

$11.26

1.99 (21.47%)

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

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IPCI

Intellipharmaceutics

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:21
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DBV Technologies: PEPITES trial does not reach primary endpoint »

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WFC

Wells Fargo

$54.92

1.17 (2.18%)

17:08
10/20/17
10/20
17:08
10/20/17
17:08
Periodicals
Regulator criticizes Wells Fargo over deceptive auto insurance program, NYT says »

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    Jan

ALIM

Alimera Sciences

17:01
10/20/17
10/20
17:01
10/20/17
17:01
Syndicate
Alimera Sciences to sell $25M in shares in an 'at the market offering' »

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SYMC

Symantec

$32.66

0.33 (1.02%)

16:51
10/20/17
10/20
16:51
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16:51
Syndicate
Breaking Syndicate news story on Symantec »

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  • 01

    Nov

EBMT

Eagle Bancorp

$19.55

0.15 (0.77%)

16:44
10/20/17
10/20
16:44
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16:44
Hot Stocks
Breaking Hot Stocks news story on Eagle Bancorp »

EJF Capital reports 7%…

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KALV

KalVista

$11.26

1.99 (21.47%)

16:43
10/20/17
10/20
16:43
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16:43
Hot Stocks
Breaking Hot Stocks news story on KalVista »

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JAGX

Jaguar Health

$0.19

0.002 (1.08%)

16:41
10/20/17
10/20
16:41
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16:41
Syndicate
Breaking Syndicate news story on Jaguar Health »

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TSLA

Tesla

$345.10

-6.71 (-1.91%)

16:40
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Tesla amends 'warehouse agreements' to increase commitments to $1.1B »

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  • 01

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SNV

Synovus

$47.30

0.54 (1.15%)

16:38
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Hot Stocks
Synovus CBO sells 10,000 common shares »

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  • 03

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GTXI

GTx

$7.92

0.1 (1.28%)

16:38
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ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

, BKMU

BankMutual

$10.80

0.55 (5.37%)

16:36
10/20/17
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16:36
Conference/Events
BankMutual to host special shareholder meeting »

Special Shareholder…

ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

BKMU

BankMutual

$10.80

0.55 (5.37%)

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  • 24

    Oct

CNXR

Connecture

$0.49

-0.01 (-2.00%)

16:35
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Breaking Hot Stocks news story on Connecture »

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GE

General Electric

$23.83

0.25 (1.06%)

, PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

16:31
10/20/17
10/20
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16:31
General news
On The Fly: Top stock stories for Friday »

Stocks opened sharply…

GE

General Electric

$23.83

0.25 (1.06%)

PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

CELG

Celgene

$121.33

-14.63 (-10.76%)

SNCR

Synchronoss

$11.39

-0.12 (-1.04%)

IL

Bought by SNCR

SKX

Skechers

$33.99

9.96 (41.45%)

PYPL

PayPal

$70.97

3.72 (5.53%)

NCR

NCR Corp.

$33.05

-4 (-10.80%)

LHO

LaSalle Hotel

$28.52

-1.94 (-6.37%)

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16:30
10/20/17
10/20
16:30
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16:30
Options
Preliminary option volume of 22.9M today »

Preliminary option volume…

MKL

Markel

$1,078.23

14.88 (1.40%)

, SNC

State National

$21.05

0.02 (0.10%)

16:26
10/20/17
10/20
16:26
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16:26
Conference/Events
State National to host special shareholder meeting »

Special Shareholder…

MKL

Markel

$1,078.23

14.88 (1.40%)

SNC

State National

$21.05

0.02 (0.10%)

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  • 24

    Oct

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    Oct

RYTM

Rhythm Pharmaceuticals

$23.08

-0.17 (-0.73%)

16:22
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Breaking Hot Stocks news story on Rhythm Pharmaceuticals »

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