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MO

Altria Group

$58.72

0.71 (1.22%)

, BTI

British American Tobacco

$52.20

-0.02 (-0.04%)

14:37
07/10/18
07/10
14:37
07/10/18
14:37

Start-up Juul seen having 'profound impact' on U.S. cigarette market

In a research note to investors, Citi analyst Adam Spielman argued that he thinks Juul, a start-up offering an alternative to cigarettes, is disruptive and will have a "profound" impact on the U.S. cigarette market. JUUL SEEN AS DISRUPTIVE: Citi's Spielman told investors that he sees "good evidence" that Juul is impacting cigarette volumes in the U.S. and will continue to do so. The analyst also pointed out that he is concerned that a ban on menthol cigarettes is now more likely. Adding to that, Juul's likely international expansion is yet another factor making tobacco less predictable, he contended. Looking at the publicly traded companies in the sector, Spielman contended that the share declines in Altria Group (MO), British American Tobacco (BTI), Imperial Brands (IMBBY) and Philip Morris (PM) "have been more or less fair." FUNDING ROUND: In a regulatory filing with the SEC, Juul disclosed it just closed on an investment round for $650M. According to Bloomberg, the vaping company is raising $1.2B in a financing round that would value Juul at $15B, with the start-up planning to use the influx of cash to expand internationally. PRICE ACTION: In afternoon trading, shares of Altria Group have gained over 1% to $58.74, while Philip Morris are fractionally up to $82.49.

MO

Altria Group

$58.72

0.71 (1.22%)

BTI

British American Tobacco

$52.20

-0.02 (-0.04%)

PM

Philip Morris

$82.47

0.27 (0.33%)

IMBBY

Imperial Brands

$0.00

(0.00%)

  • 19

    Jul

MO Altria Group
$58.72

0.71 (1.22%)

07/10/18
SBSH
07/10/18
NO CHANGE
SBSH
Juul having 'profound impact' on U.S. cigarette market, says Citi
Citi analyst Adam Spielman sees "good evidence" that Juul is impacting cigarette volumes in the U.S. and will continue to do so. The analyst is also concerned that a ban on menthol cigarettes is now more likely. Further, Juul's international expansion is "yet another factor making tobacco less predictable," Spielman tells investors in a research note. The analyst believes the share declines in Altria Group (MO), British American Tobacco (BTI), Imperial Brands (IMBBY) and Philip Morris (PM) "have been more or less fair."
06/01/18
JEFF
06/01/18
NO CHANGE
Target $70
JEFF
Buy
Jefferies lowers Altria target to $70, remains bullish on shares
Jefferies analyst Owen Bennett lowered his price target for Altria Group to $70 from $84 to reflect market concerns about the new tobacco model. These are misplaced, but are unlikely to go away in the next 12-18 months, Bennett tells investors in a research note. The analyst sees a "near-term re-rating opportunity" and remains bullish on Altria over the next 12 months. He keeps a Buy rating on the stock.
04/30/18
RBCM
04/30/18
UPGRADE
Target $65
RBCM
Outperform
Altria Group upgraded to Outperform at RBC Capital on valuation
As reported earlier, RBC Capital analyst Nik Modi upgraded Altria Group to Outperform from Sector Perform with a price target of $65. Modi notes that while his concerns around the macro backdrop and fundamentals persist, the current valuation of 13-times forward PE is attractive relative to the broader Consumer Packaged Goods category given the company's potential catalysts of more dividend increases tracking higher interest rates and the FDA approval process for IQOS electronic cigarettes.
04/30/18
04/30/18
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. Altria Group (MO) upgraded to Outperform from Sector Perform at RBC Capital with analyst Nik Modi saying while his concerns around the macro backdrop and fundamentals persist, the current valuation of 13-times forward PE is attractive relative to the broader Consumer Packaged Goods category given the company's potential catalysts of more dividend increases tracking higher interest rates and the FDA approval process for IQOS electronic cigarettes. 2. Aaron's (AAN) upgraded to Buy from Hold at Loop Capital with analyst Anthony Chukumba saying he remains "impressed" by Progressive's revenue growth and thinks the unit will benefit from Rent-A-Center's (RCII) "ongoing struggles." 3. Cirrus Logic (CRUS) upgraded to Buy from Hold at Craig-Hallum with analyst Anthony Stoss saying he believes Apple (AAPL) headwinds are already priced into the stock and a relief rally is likely following the company's upcoming earnings this Wednesday. 4. Ventas (VTR) upgraded to Market Perform from Underperform at BMO Capital with John Kim citing a more attractive valuation after the stock price came down another 19% in 2018. 5. New York Times (NYT) upgraded to Overweight from Neutral at JPMorgan with analyst Alexia Quadrani saying she believes digital demand will likely drive further "outsized growth" for New York Times. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BTI British American Tobacco
$52.20

-0.02 (-0.04%)

05/01/18
05/01/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Financial Engines (FNGN) downgraded to Hold from Buy at Jefferies with analyst Surinder Thind saying he does not foresee a competing bid emerging and expects the takeover by Hellman & Friedman to receive both shareholder and regulatory approval. 2. Archrock (AROC) downgraded to Neutral from Overweight at JPMorgan with analyst Andrew Burd citing valuation for the downgrade ahead of the company's first quarter results on Thursday. He sees the shares trading sideways into the summer. 3. British American Tobacco (BTI) downgraded to Neutral from Overweight at Piper Jaffray with analyst Michael Lavery saying recent glo momentum is slowing in Japan as share trends are flattening. 4. Intevac (IVAC) was downgraded to Neutral from Buy at B. Riley FBR and to Hold from Buy at Noble Financial and Maxim. 5. Texas Roadhouse (TXRH) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson citing valuation following the company's "mostly in-line" Q1 report. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/22/18
STFL
03/22/18
NO CHANGE
Target $78
STFL
Buy
Altria Group cigarette price hike slightly ahead of expectations, says Stifel
Stifel analyst Christopher Growe noted that Altria (MO) announced that it is raising prices for its cigarettes by 9c per pack, which was slightly ahead of his 1c per pack expectations, although right in line with his expectations for timing at six months since the last increase. This increase is "quite supportive" of the company's yearly EPS growth outlook of 15%-19%, but he believes this was fully factored in Altria's guidance, Growe said. As in the past, he expects competitors Reynolds American (BTI) and Imperial Brands (IMBBY) to follow suit quickly, Growe added. He keeps a Buy rating and $78 price target on Altria shares.
05/01/18
PIPR
05/01/18
DOWNGRADE
PIPR
Neutral
British American Tobacco downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Michael Lavery downgraded British American Tobacco to Neutral and lowered his price target for the shares to GBP 43 from GBP 50. Recent glo momentum is slowing in Japan as share trends are flattening, Lavery tells investors in a research note. Further, the analyst believes the company's U.S. combustible growth appears to be slowing as well.
PM Philip Morris
$82.47

0.27 (0.33%)

06/08/18
STFL
06/08/18
NO CHANGE
STFL
Buy
Philip Morris dividend increase earlier, larger than expected, says Stifel
Philip Morris's 6.5% dividend increase announced today is not only off-cycle, but also of greater magnitude than the last three increases, which have averaged just over 2%, Stifel analyst Christopher Growe tells investors in a research note. The analyst highlights the company's nearly 6% dividend yield and "deep discount" to global Consumer Staples peers. He keeps a Buy rating on Philip Morris.
04/20/18
04/20/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Procter & Gamble (PG) downgraded to Neutral from Buy at BofA/Merrill and to Hold from Buy at Deutsche Bank aw well as Argus. 2. Philip Morris (PM) downgraded to Buy from Conviction Buy at Goldman Sachs and to Underperform from Neutral at BofA/Merrill. 3. DHT Holdings (DHT) downgraded to Neutral from Overweight at JPMorgan with analyst Noah Parquette saying he has become more constructive on a crude tanker recovery in 2019 but cites relative valuation for the downgrade on DHT. 4. Skechers (SKX) downgraded to Neutral from Outperform at Wedbush with analyst Christopher Svezia citing the company's first quarter results. 5. Tyson Foods (TSN) downgraded to Hold from Buy at Vertical Group. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/18/18
STFL
05/18/18
NO CHANGE
Target $100
STFL
Buy
Stifel highlights four potential catalysts that could boost Philip Morris shares
Stifel analyst Christopher Growe noted Philip Morris shares are trading at a valuation "well below" recent history for the stock and below Consumer Staples peers and the S&P 500. He reiterates his Buy rating on Philip Morris, highlighting four potential catalysts that the could move the stock higher, namely iQOS share growth in Japan; iQOS share growth in the EU; PMTA approval in the U.S.; and share repurchase activity. Growe keeps a $100 price target on Philip Morris shares.
IMBBY Imperial Brands
$0.00

(0.00%)

03/14/18
GSCO
03/14/18
DOWNGRADE
GSCO
Neutral
Imperial Brands downgraded to Neutral from Buy at Goldman Sachs
03/15/18
COWN
03/15/18
NO CHANGE
COWN
Cowen sees FDA nicotine crackdown taking years, not months
The FDA filed an advance notice of proposed rulemaking on nicotine levels for combustible tobacco, which starts the clock on what will ultimately be a long process of data gathering, Cowen analyst Vivien Azer tells investors in a research note. The analyst sees the process taking years, not months, given the need for additional research. Azer has Outperform ratings on Altria Group (MO), British American Tobacco (BTI) and Imperial Brands (IMBBY).

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AG

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$6.26

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, WP

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SNAP

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$6.76

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14:10
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Time spreads in Snap as shares see further weakness »

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AXP

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-1.88 (-1.80%)

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GSVC

GSV Capital

$6.75

0.13 (1.96%)

14:00
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Far downside put buyers in GSV Capital Corporation »

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SCHW

Charles Schwab

$46.56

-1.49 (-3.10%)

13:55
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Charles Schwab put volume heavy and directionally bearish »

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  • 19

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FSNUY

Fresenius SE

$0.00

(0.00%)

, AKRX

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13:51
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GT

Goodyear Tire

$20.47

-0.98 (-4.57%)

, CTB

Cooper Tire

$24.67

-0.97 (-3.78%)

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GT

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$20.47

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CTB

Cooper Tire

$24.67

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MGDDY

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$10.61

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ZION

Zions Bancorp

$47.57

-0.86 (-1.78%)

13:45
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Zions Bancorp call volume above normal and directionally bullish »

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ArQule

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PPG

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$98.22

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