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PM

Philip Morris

$82.98

-2.515 (-2.94%)

, BTI

British American Tobacco

$40.19

-0.17 (-0.42%)

10:29
04/18/19
04/18
10:29
04/18/19
10:29

McConnell to introduce bill to raise minimum age to buy tobacco to 21, WBKO says

Senate Majority Leader Mitch McConnell said he plans to introduce legislation in the U.S. Senate to raise the nationwide minimum age to buy tobacco products from 18 to 21, WBKO reports, citing a press conference. The McConnell bill, which will be introduced in May, will cover all tobacco products, including vaping devices. Publicly traded companies in the space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM). Reference Link

PM

Philip Morris

$82.98

-2.515 (-2.94%)

BTI

British American Tobacco

$40.19

-0.17 (-0.42%)

MO

Altria Group

$54.84

-1.34 (-2.39%)

  • 18

    Apr

  • 25

    Apr

  • 01

    May

  • 06

    May

  • 16

    May

PM Philip Morris
$82.98

-2.515 (-2.94%)

02/27/19
02/27/19
UPGRADE

Fly Intel: Top analyst upgrades
Catch up on today's top analyst upgrades with this list compiled by The Fly: 1. Philip Morris (PM) upgraded to Buy from Neutral at UBS with analyst Robert Rampton saying the company's valuation hinges on its heated tobacco proposition, iQOS. 2. Boise Cascade (BCC) upgraded to Buy from Neutral at DA Davidson with analyst Steven Chercover saying that with the "irrational exuberance" having been shaken out of the stock, now is an "attractive entry point." 3. AptarGroup (ATR) upgraded to Outperform from Neutral at Baird. 4. W. R. Berkley (WRB) upgraded to Outperform from Neutral at Credit Suisse, while Cincinnati Financial (CINF) was upgraded to Neutral from Underperform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/19
JEFF
03/06/19
NO CHANGE
JEFF
Gottlieb resignation positive for tobacco sentiment, says Jefferies
The resignation of FDA commissioner Scott Gottlieb is a net positive for tobacco sentiment, particularly for British American Tobacco (BTI) as it should lessen concerns related to any possible action around a menthol ban near term, Jefferies analyst Owen Bennett tells investors in a research note. A potential delay to guidelines around e-vapour restrictions could also support both British American and Imperial Brands (IMBBY), adds the analyst.
03/06/19
MSCO
03/06/19
NO CHANGE
MSCO
Resignation of Gottlieb lowers near-term overhang on Altria, says Morgan Stanley
Morgan Stanley analyst Pamela Kaufman said she expects a positive reaction in tobacco stocks to the news that FDA Commissioner Scott Gottlieb will resign in April as it likely delays the agency's near-term tobacco control objectives. Gottlieb has been very vocal on tobacco regulation and his resignation creates a vacuum in leadership and uncertainty about the agency's strategy for tobacco control until a new head is appointed, though leadership at the Center of Tobacco Products remains intact under Mitch Zeller, Kaufman tells investors. While his resignation reduces the near-term regulatory overhang on Altria (MO), it could be a "mixed bag for e-cigs," as Gottlieb changed his tone last year due to the youth e-cig epidemic but he had previously increased leniency towards the category when he pushed out the PMTA deadline to 2022 from 2018, added Kaufman.
03/25/19
SBSH
03/25/19
NO CHANGE
Target $102
SBSH
Buy
Philip Morris price target raised to $102 from $90 at Citi
Citi analyst Adam Spielman raised his price target for Philip Morris to $102 from $90 citing the general increase in stock multiples. The analyst keeps a Buy rating on the shares. He did, however, reduce his earnings estimates for 2019 by 5% and for 2020 and beyond by 6% after Philip Morris' Canadian unit went into the local equivalent of Chapter 11. So far Canadian litigation has had little visible impact on tobacco shares, even for British American Tobacco (BTI), where the damages are much greater, Spielman tells investors in a research note. He thinks earnings reductions will affect Philip Morris in the short-term. However, in the medium-term the company's value will be determined by its success with reduced risk products, most notably iQos, says the analyst.
BTI British American Tobacco
$40.19

-0.17 (-0.42%)

01/29/19
01/29/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nvidia (NVDA) upgraded to Buy from Neutral at UBS with analyst Timothy Arcuri saying the 20% fiscal Q4 revenue miss preannounced and the stock drop "finally sets the stage for a new positive revision cycle starting this summer." 2. American Express (AXP) upgraded to Overweight from Neutral at Atlantic Equities. 3. BlackRock (BLK) upgraded to Buy from Hold at Jefferies with analyst Daniel Fannon saying it is benefiting from both structural shifts in investor behavior as well as secular trends and he believes the company can continue to deliver industry leading organic growth and capital return. 4. British American Tobacco (BTI) upgraded to Overweight from Neutral at Piper Jaffray with analyst Michael Lavery saying he views the stock's valuation as attractive at current levels and feels "modestly more comfortable" with Glo's patent litigation risk in Japan. 5. 3D Systems (DDD) and Stratasys (SSYS) were upgraded to Overweight from Neutral at Piper Jaffray. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/28/19
SBSH
03/28/19
UPGRADE
SBSH
Buy
British American Tobacco upgraded to Buy from Neutral at Citi
Citi analyst Adam Spielman upgraded British American Tobacco (BTI) to Buy from Neutral and raised his price target for the shares to GBP 36 from GBP 30. The analyst believes organic revenue growth for tobacco companies will pick up this year as sales of next generation products accelerate. Further, the regulatory threat will probably move away from cigarettes, Spielman tells investors in a research note. He thinks an even greater focus on e-vapor cigarettes could be positive for both British American Tobacco and Imperial Brands (IMBYY).
MO Altria Group
$54.84

-1.34 (-2.39%)

02/25/19
JEFF
02/25/19
INITIATION
JEFF
Underperform
Cronos Group initiated with an Underperform at Jefferies
Jefferies analyst Owen Bennett initiated coverage of nine cannabis stocks, stating that his base-case "conservative" assumption is that the cannabis industry can grow in size to over $50B by 2029 from $17B in 2019. He started Cronos Group (CRON) with an Underperform rating and C$17 price target, stating that "at present we feel there is little to get really excited about other than the investment and large sum of money" from Altria (MO). He thinks "the market has gotten ahead of itself" on Cronos as he questions when Altria value creation will begin to materialize, Bennett tells investors.
03/05/19
COWN
03/05/19
INITIATION
COWN
Market Perform
Cronos Group initiated with a Market Perform at Cowen
Cowen analyst Vivien Azer started Cronos Group (CRON) with a Market Perform rating and C$29 price target. The analyst likes the company's story as an asset-light, global low-cost producer with operational support and invested capital from Altria Group (MO). However, Azer says the stock's current valuation prevents her from taking a more constructive position at this time.

TODAY'S FREE FLY STORIES

SRPT

Sarepta

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SRPT

Sarepta

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AMZN

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OHAI

OHA Investment

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ONCT

Oncternal Therapeutics

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0.05 (1.09%)

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HZN

Horizon Global

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Horizon Global CFO Jamie Pierson steps down »

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ORCL

Oracle

$56.47

0.16 (0.28%)

18:03
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Oracle CEO Catz says expects momentum in 2H20 to carry into FY21 »

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SRPT

Sarepta

$100.39

-1.15 (-1.13%)

18:00
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12/12
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ORCL

Oracle

$56.47

0.16 (0.28%)

17:52
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Oracle's Ellison says 'we have no plans for having a second CEO' »

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NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

, EVRC

Evercel, Inc

$0.00

(0.00%)

17:41
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NewLink Genetics advances over 11% after Evercel discloses rejected offer »

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NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

EVRC

Evercel, Inc

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EVRC

Evercel, Inc

$0.00

(0.00%)

, NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

17:36
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Evercel, Inc

$0.00

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NLNK

NewLink Genetics

$1.61

-0.015 (-0.93%)

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BXRX

Baudax Bio

$6.30

0.225 (3.70%)

17:34
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Corsair Capital reports 8.77% passive stake in Baudax Bio »

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GVA

Granite Construction

$27.55

1.255 (4.77%)

17:33
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Granite Construction subsidiary awarded $16M contract to rehabilitate I-94 »

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ENV

Envestnet

$71.58

-0.195 (-0.27%)

17:29
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Syndicate
Breaking Syndicate news story on Envestnet »

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LULU

Lululemon

$224.48

-8.83 (-3.78%)

17:28
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Syndicate
Lululemon holder Advent said to offer 2.6M shares, Bloomberg reports »

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ORCL

Oracle

$56.47

0.16 (0.28%)

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ORCL

Oracle

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0.16 (0.28%)

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Conference/Events
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ORCL

Oracle

$56.47

0.16 (0.28%)

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NPO

EnPro

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ORCL

Oracle

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NXPI

NXP Semiconductors

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PFE

Pfizer

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ELS

Equity Lifestyle

$69.93

-1.13 (-1.59%)

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  • 28

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