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MO

Altria Group

$51.44

0.54 (1.06%)

13:05
12/19/18
12/19
13:05
12/19/18
13:05

Altria near deal for $12.8B, 35% stake in Juul, WSJ reports

Altria Group (MO) is nearing a deal to acquire a 35% stake in e-cigarette startup Juul Labs at a roughly $38B valuation, Dana Mattioli and Jennifer Maloney of Wall Street Journal report, citing people familiar with the matter. The $12.8B stake could be announced as soon as this week and would more than double what Juul was valued at just a few months ago, the reporters add. Shares of Altria are up 1%, or 61c, to $51.51 in afternoon trading. Reference Link

  • 07

    Feb

MO Altria Group
$51.44

0.54 (1.06%)

12/11/18
PIPR
12/11/18
NO CHANGE
Target $75
PIPR
Overweight
Altria could partner with Philip Morris on JUUL stake, says Piper Jaffray
Even after its $1.8B investment in Cronos Group (CRON) for a 45% ownership interest, Altria Group (MO) still has "significant" spending flexibility, Piper Jaffray analyst Michael Lavery tells investors in a research note. The company remains focused on e-vapor category leadership, suggesting it may be preparing to acquire a stake in JUUL, adds the analyst. However, Altria will likely remain committed to its investment grade debt rating, which could cause it to consider partnering with Philip Morris (PM) for a stake in JUUL, especially if a deal is done at higher valuation levels, says Lavery. The analyst believes Altria can deliver double-digit earnings growth over 2018-2020, above its long-term 7%-9% growth target, driven by pricing, tax savings, managing spending, share buybacks and falling interest expense. He keeps an Overweight rating on the shares with a $75 price target.
12/07/18
ADAM
12/07/18
NO CHANGE
ADAM
Hold
Cronos investment should drive sector valuations higher, says Canaccord
Canaccord analyst Matt Bottomley said Altria Group's (MO) agreement to make a C$2.4B strategic investment in Cronos Group (CRON) for a 45% stake equates to "a lofty 36.2 times" multiple of his 2020 EV/EBITDA valuation for the cannabis company. When taken in the context of Constellation Brands' (STZ) C$5B investment in Canopy Growth (CGC) back in August, Bottomley believes an investment of this magnitude "provides overall legitimacy to the industry as a whole" and should be a positive catalyst for the sector and drive valuations higher. He maintains a Hold rating and C$9.00 price target on Cronos shares.
12/04/18
MSCO
12/04/18
NO CHANGE
Target $63
MSCO
Equal Weight
Altria potential cannabis bet likely to come at high price, says Morgan Stanley
After Canada's Cronos Group (CRON) confirmed last night that it is in discussions with Altria (MO) regarding a potential investment, Morgan Stanley analyst Pamela Kaufman said it is not surprising that the cigarette giant is evaluating cannabis investments given the evolving regulatory landscape and the company's search for long-term growth opportunities to offset secular cigarette volume declines. An investment in cannabis could be a means to gain a foothold in the category, but would likely come at an high price given the elevated valuations in the space and limited profitability of existing companies, noted Kaufman. She maintains an Equal Weight rating and $63 price target on Altria shares.
11/29/18
MSCO
11/29/18
NO CHANGE
Target $63
MSCO
Equal Weight
Stake in Juul could make strategic sense for Altria, says Morgan Stanley
Commenting on The Wall Street Journal's report that Altria is in talks to take a "significant minority stake" in Juul Labs, Morgan Stanley analyst Pamela Kaufman said she has no knowledge of a potential deal but that taking such a stake could make strategic sense for Altria to gain exposure to a fast growing product that poses a threat to its cigarette business. Altria does not have a robust reduced risk product portfolio and Juul's e-cigs could significantly enhance its competitive position, contends Kaufman, who also believes Altria would likely be buying in at a lower valuation than the previously reported $15B given the FDA recently prohibited flavored pods sales in convenience stores. Kaufman keeps an Equal Weight rating on Altria with a $63 price target.

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PM

Philip Morris

$79.12

0.8 (1.02%)

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  • 17

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GOLD

Barrick Gold

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  • 06

    Nov

PFE

Pfizer

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-0.17 (-0.47%)

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GILD

Gilead

$65.36

0.02 (0.03%)

07:08
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MAIN

Main Street

$42.08

0.155 (0.37%)

07:08
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Earnings
Main Street declares semi-annual supplemental cash dividend of 24c in December »

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  • 08

    Nov

POOL

Pool Corp.

$200.56

-4.63 (-2.26%)

07:08
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Pool Corp. raises FY19 EPS view $6.20-$6.40 from $6.09-$6.34 

Consensus $6.22.

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  • 17

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PM

Philip Morris

$79.12

0.8 (1.02%)

07:08
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Philip Morris revises FY19 shipment volume assumption to "down 1% - down 1.5" »

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  • 17

    Oct

BIIB

Biogen

$227.79

1.75 (0.77%)

07:07
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  • 22

    Oct

AZN

AstraZeneca

$43.80

-0.41 (-0.93%)

07:07
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  • 19

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POOL

Pool Corp.

$200.56

-4.63 (-2.26%)

07:07
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Pool Corp. reports Q3 EPS ex-items $1.84, consensus $1.78 »

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TXMD

TherapeuticsMD

$3.70

-0.22 (-5.61%)

07:05
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PM

Philip Morris

$79.12

0.8 (1.02%)

07:05
10/17/19
10/17
07:05
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07:05
Earnings
Philip Morris lowers FY19 EPS view to 'at least $4.73' from 'at least $4.94' »

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  • 17

    Oct

NFLX

Netflix

$286.83

2.59 (0.91%)

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  • 29

    Oct

NBRV

Nabriva Therapeutics

$2.01

0.08 (4.15%)

07:05
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BBIO

BridgeBio

$17.92

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AMGN

Amgen

$203.28

-1.37 (-0.67%)

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UCBJY

UCB

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SASR

Sandy Spring Bancorp

$33.42

0.21 (0.63%)

07:04
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Earnings
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  • 17

    Oct

AUG

Auryn Resources

$1.28

0.09 (7.56%)

07:02
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Auryn Resources stakes additional claims at Sombrero North project area »

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CNC

Centene

$45.53

0.33 (0.73%)

, WBA

Walgreens Boots Alliance

$54.66

0.15 (0.28%)

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CNC

Centene

$45.53

0.33 (0.73%)

WBA

Walgreens Boots Alliance

$54.66

0.15 (0.28%)

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MIST

Milestone Pharmaceuticals

$18.75

0.25 (1.35%)

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  • 22

    Oct

PM

Philip Morris

$79.12

0.8 (1.02%)

07:02
10/17/19
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Earnings
Philip Morris reports Q3 adjusted EPS $1.43, consensus $1.36 »

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  • 17

    Oct

MDGL

Madrigal Pharmaceuticals

$86.78

-0.49 (-0.56%)

07:00
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Conference/Events
Madrigal Pharmaceuticals management to meet with Oppenheimer »

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  • 22

    Oct

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