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PM

Philip Morris

$83.15

1.33 (1.63%)

, MO

Altria Group

$61.02

0.69 (1.14%)

13:00
10/02/18
10/02
13:00
10/02/18
13:00

JUUL Labs says has released over 50,000 pages of documents to FDA since April

JUUL Labs issued the following statement today from its CEO, Kevin Burns, regarding the FDA Inspection: "We are committed to preventing underage use, and we want to engage with FDA, lawmakers, public health advocates and others to keep JUUL out of the hands of young people. The meetings last week with FDA gave us the opportunity to provide information about our business from our marketing practices to our industry-leading online age-verification protocols to our youth prevention efforts. It was a constructive and transparent dialogue. We've now released over 50,000 pages of documents to the FDA since April that support our public statements. We look forward to presenting our plan to address youth access in the 60-day time frame as outlined by FDA. We want to be part of the solution in preventing underage use, and we believe it will take industry and regulators working together to restrict youth access." Publicly traded companies in the tobacco space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).

PM

Philip Morris

$83.15

1.33 (1.63%)

MO

Altria Group

$61.02

0.69 (1.14%)

BTI

British American Tobacco

$46.49

0.81 (1.77%)

PM Philip Morris
$83.15

1.33 (1.63%)

08/24/18
JEFF
08/24/18
DOWNGRADE
JEFF
Hold
Jefferies downgrades Philip Morris, Altria Group to Hold from Buy
Jefferies analyst Owen Bennett downgraded both Philip Morris (PM) and Altria Group (MO) to Hold from Buy. The analyst lowered his lowered his price target on the former to $80 from $93 and on the latter to $61 from $70. For Philip Morris, the analyst sees significant share loss in Japan heated in the second half of 2018 and believes its longer-term total tobacco volumes will pressured due to greater skew to vapor. For Altria Group, Bennett believes market share pressures should pick up again the second half of 2018. Further, he sees the company at a disadvantage in vapor due to available formats and believes concerns around the delay of an IQOS approval will likely weigh on the shares. The analyst reiterates a Buy rating on shares of British American Tobacco (BTI).
08/24/18
08/24/18
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. L Brands (LB) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Kimberly Greenberger saying the Victoria's Secret turnaround is taking longer than anticipated and she now sees greater risk to 2019 estimates. 2. Hormel Foods (HRL) downgraded to Equal Weight from Overweight at Barclays with analyst Benjamin Theurer saying he is taking a more neutral view on the shares citing the supply/demand imbalance in the pork business, uncertainty in the international segment from trade tariffs, and the "sluggish performance" of its other businesses. 3. Cummins (CMI) downgraded to Underweight from Neutral at JPMorgan with analyst Ann Duignan saying with demand for trucks in China slowing, and lingering investor concerns over a peaking truck cycle in North America, she sees downside risks for the shares. 4. Secureworks (SCWX) downgraded to Sell from Neutral at UBS WITH analyst Fatima Boolani citing valuation. 5. Altria Group (MO) and Philip Morris (PM) were downgraded to Hold from Buy at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/18
WELS
09/20/18
NO CHANGE
WELS
Outperform
Tobacco stocks to rally on PM USA price increase, says Wells Fargo
Wells Fargo analyst Bonnie Herzog says Altria Group (MO) and Philip Morris (PM) just announced a "healthy and slightly higher than expected" wholesale list price increase on all of its cigarette brands, including Marlboro The analyst learned from industry contacts that PM USA took a cigarette list price increase of 10c per pack or $1.00 per carton on Marlboro, L&M, and B&H Menthol, 15c per pack on Parliament and Virginia Slims, and 50c per pack on everything else. The 10c per pack increase on Marlboro is slightly higher than the 9c per pack increase Altria took on Marlboro in March 2018, reflecting the company's "significant pricing power," Herzog tells investors in a research note. The analyst expects British American Tobacco (BTI), Reynolds and ITG Brands will follow Altria's lead and increase prices in the next few days, but possibly not as robust of an increase. She expects Tobacco stocks will react favorably to this list price increase and reiterates an Overweight rating on the sector and Outperform rating on Altria Group.Fargo
09/27/18
PIPR
09/27/18
NO CHANGE
Target $99
PIPR
Overweight
Philip Morris medium-term targets likely beatable, says Piper Jaffray
Piper Jaffray analyst Michael Lavery says Philip Morris updated its 2018 guidance for currency and gave medium-term guidance, with a medium-term objective of 5% or better organic sales growth and 8% or better earnings growth. The analyst considers these targets "to be realistic and achievable, and likely even beatable." The company also announced implementation of zero-based budgeting, which is expected to drive $1B of annualized cost savings by 2021, Lavery tells investors in a research note. Further, Philip Morris revised guidance for currency to reflect a 12c hit and now expects earnings per share in a range of $4.97-$5.02, down from $5.02-$5.12, the analyst points out. Lavery keeps an Overweight rating on the shares with a $99 price target.
MO Altria Group
$61.02

0.69 (1.14%)

09/13/18
MSCO
09/13/18
NO CHANGE
MSCO
Morgan Stanley says FDA e-cig stance positive for Altria, British American
After the FDA announced a plan to address growing concerns about youth e-cigarette use, Morgan Stanley analyst Pamela Kaufman called the FDA's "harsh stance against the e-cig category" a positive development for U.S. tobacco names Altria (MO) and British American Tobacco (BTI). The threat of a potential expedited PMTA submission deadline and the removal of flavors could have significant negative implications for JUUL and would minimize its threat to combustible cigarettes, said Kaufman. The FDA's potential actions would also hurt tobacco companies' e-cig initiatives, but they are "well-equipped" and experienced in managing through heightened regulatory scrutiny, added the analyst, who believes that overall the FDA is "sending mixed messages" on its nicotine reduction agenda.
BTI British American Tobacco
$46.49

0.81 (1.77%)

09/03/18
RBCM
09/03/18
DOWNGRADE
RBCM
Underperform
British American Tobacco downgraded to Underperform at RBC Capital
RBC Capital analyst James Edwardes Jones downgraded British American Tobacco to Underperform from Sector Perform and lowered his price target for the shares to 3,400p. The next generation of tobacco products remove the industry's "historically insurmountable barriers to entry," Jones tells investors in a research note.

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PANW

Palo Alto Networks

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0.365 (3.76%)

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CTL

CenturyLink

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0.37 (2.69%)

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CVS

CVS Health

$69.92

0.39 (0.56%)

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Southern Company

$48.91

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Earnings
Notable companies reporting before tomorrow's open »

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AROC

Archrock

$10.06

0.365 (3.76%)

20:21
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Earnings
Archrock reports Q4 EPS 10c, consensus 8c »

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AI

Arlington Asset Investment

$8.70

-0.14 (-1.58%)

20:09
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Syndicate
Arlington Asset Investment 6M share Spot Secondary priced at $8.33 »

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GLD

SPDR Gold Shares

$126.70

1.89 (1.51%)

19:46
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Hot Stocks
SPDR Gold Shares holdings fall to 792.45MT from 793.03MT »

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Tesla

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Tesla CEO says company will make about 500,000 cars in 2019 »

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InterDigital

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Twitter

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OneSpan

$16.78

0.645 (4.00%)

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Hot Stocks
Fly Intel: After Hours Movers »

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America's Car-Mart

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NVTA

Invitae

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LZB

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Texas Roadhouse

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ShotSpotter

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HBM

Hudbay Minerals

$6.35

0.365 (6.10%)

18:58
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Hudbay Minerals announces increased reserves at Lalor mine »

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Hudbay Minerals reports Q4 copper output 37.2K tonnes, down 14% from last year »

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CLXT

Calyxt

$13.56

0.15 (1.12%)

18:55
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Hudbay Minerals reports Q4 EPS (1c), consensus 18c »

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NOC

Northrop Grumman

$287.36

0.44 (0.15%)

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SPX

S&P 500

$0.00

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SPDR S&P 500 ETF Trust

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18:31
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POTUS says U.S. corn sales to China part of trade talks, Bloomberg says »

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APHA

Aphria

$9.69

0.11 (1.15%)

18:29
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TEVA

Teva

$18.01

0.02 (0.11%)

, AGN

Allergan

$137.94

-1.13 (-0.81%)

18:26
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18:26
Hot Stocks
Teva finalizes settlement with FTC to resolve all outstanding litigation »

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Teva

$18.01

0.02 (0.11%)

AGN

Allergan

$137.94

-1.13 (-0.81%)

ABBV

AbbVie

$80.50

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18:25
02/19/19
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18:25
Conference/Events
CLSA technology analyst to hold an analyst/industry conference call »

Technology Sales…

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