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WBA

Walgreens Boots Alliance

$53.41

-0.68 (-1.26%)

, PM

Philip Morris

$84.72

0.45 (0.53%)

10:36
04/23/19
04/23
10:36
04/23/19
10:36

Walgreens to implement new 'Tobacco 21' policy chain-wide as of Sept. 1

Walgreens (WBA) announced that it is implementing a new, chain-wide policy that will require customers to be at least 21 years old in order to purchase tobacco products in its stores. The policy will be effective Sept. 1, 2019, and "is the most recent step in an ongoing effort to further prevent youth access to tobacco products," Walgreens said. The new Tobacco 21 policy reinforces other recent steps the company has taken, including the implementation of a "Card All" policy chain-wide last October and also aligns with the efforts of states and municipalities who have recently enacted, or are considering, laws to restrict tobacco sales to people 21 and older, according to Walgreens. Publicly traded companies in the tobacco products space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).

WBA

Walgreens Boots Alliance

$53.41

-0.68 (-1.26%)

PM

Philip Morris

$84.72

0.45 (0.53%)

BTI

British American Tobacco

$39.92

0.22 (0.55%)

MO

Altria Group

$54.39

-0.22 (-0.40%)

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WBA Walgreens Boots Alliance
$53.41

-0.68 (-1.26%)

04/18/19
04/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Morgan Stanley (MS) downgraded to Neutral from Buy at Citi with analyst Keith Horowitz saying Morgan Stanley reported "strong" Q1 results but the shares are fairly valued. 2. Snap (SNAP) downgraded to Negative from Mixed at Vertical Group and to Neutral from Outperform at Wedbush. 3. Rite Aid (RAD) downgraded with a Sell from Neutral at Guggenheim while Walgreens Boots Alliance (WBA) was downgraded with a Neutral from Buy. 4. CF Industries (CF) downgraded to Underperform from Buy at BofA/Merrill with analyst Steve Byrne saying he has spoken with 10 key channel contacts in the Cornbelt and several commented that never in their 30-plus year careers have they seen fertilizer applications this far behind, mainly due to the weather. 5. FMC Corporation (FMC) downgraded to Sector Perform from Outperform at RBC Capital with analyst Arun Viswanathan citing the "uncertainty of Rynaxypyr and Cyazypyr patent expiration" as well as the reduced multiple from the recent lithium separation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/17/19
GUGG
04/17/19
DOWNGRADE
Target $59
GUGG
Neutral
Walgreens Boots Alliance assumed with a Neutral from Buy at Guggenheim
Guggenheim analyst Glen Santangelo assumed coverage of Walgreens Boots Alliance and downgraded the shares to Neutral from the firm's Buy rating under analyst John Heinbockel. He lowered his price target for the stock to $59 from $75. The analyst is concerned about the continuing structural pressures facing the retail pharmacy industry. Further, the evolution of Walgreens' competitive landscape "will continue to make things difficult for the company," Santangelo tells investors in a research note.
04/17/19
GUGG
04/17/19
DOWNGRADE
Target $59
GUGG
Neutral
Walgreens Boots Alliance assumed with a Neutral from Buy at Guggenheim
04/03/19
04/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank with analyst Chad Dillard saying the biggest risk to the bull case for Caterpillar is if its backlog growth turns negative, "and it is becoming increasingly clear that it will within this next quarter." 2. Dunkin' Brands (DNKN) downgraded to Market Perform from Outperform at BMO Capital with analyst Andrew Strelzik saying that while he remains positive on the company's underlying fundamentals over the long term, he sees risk/reward at current levels as "less persuasive." 3. Tallgrass Energy (TGE) downgraded to Neutral from Buy at Goldman Sachs with analyst Michael Lapides citing the stock's recent outperformance and also warns that its Rockies Express Pipeline natural gas pipeline and Pony Express crude oil pipeline contract roll-offs pose "overhangs," even though the "volume growth out of Bakken, Niobrara, and Powder River Basin could offset this over time." 4. Walgreens Boots Alliance (WBA) downgraded to Hold from Buy at Loop Capital with analyst Andrew Wolf citing the company's disappointing Q2 earnings and FY19 guidance announced yesterday "driven by significantly lower-than-forecasted gross margin resulting from increased pharmacy reimbursement rate pressure in the U.S." 5. Alcoa (AA) downgraded to Neutral from Buy at BofA/Merrill with analyst Timna Tanners saying she now sees limited free cash flow payments by Alcoa to upstream AWAC joint-venture partner Alumina Ltd, potential excess alumina/bauxite supply, and potential price risks from the Alunorte refinery restarting, the world's largest refinery. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
PM Philip Morris
$84.72

0.45 (0.53%)

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.
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.
03/06/19
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.
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.
BTI British American Tobacco
$39.92

0.22 (0.55%)

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).
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.
MO Altria Group
$54.39

-0.22 (-0.40%)

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.
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.

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Avangrid

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JPMorgan

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Bank of America

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OAS

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HON

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MBRX

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VIVE

Viveve

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PRGO

Perrigo

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  • 01

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UAL

United Continental

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MBIO

Mustang Bio

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BCLI

BrainStorm

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0.055 (1.54%)

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WLK

Westlake Chemical

$61.27

0.66 (1.09%)

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Westlake Chemical raises quarterly dividend by 5% to 26.25c per share »

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GIG

GigCapital

$10.30

(0.00%)

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