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BTI

British American Tobacco

$34.69

0.21 (0.61%)

, MO

Altria Group

$43.15

0.7 (1.65%)

13:52
10/10/19
10/10
13:52
10/10/19
13:52

CDC raises estimate of lung injury cases associated with vaping to 1,299

The CDC announced the updated number of confirmed and probable lung injury cases and deaths associated with e-cigarette product use, or vaping. As of October 8, 2019, 1,299 lung injury cases associated with the use of e-cigarette, or vaping, products have been reported to CDC from 49 states, the District of Columbia, and 1 U.S. territory. Twenty-six deaths have been confirmed in 21 states, the CDC added. The CDC had previously said that as of October 1, 1,080 confirmed and probable lung injury cases associated with e-cigarette product use, or vaping, were reported by 48 states and the U.S. Virgin Islands. The Fly notes that Altria (MO) has a 35% stake in Juul. Other publicly traded companies in the tobacco space include British American Tobacco (BTI), Imperial Brands (IMBBY) and Philip Morris (PM). Reference Link

BTI

British American Tobacco

$34.69

0.21 (0.61%)

MO

Altria Group

$43.15

0.7 (1.65%)

PM

Philip Morris

$77.64

0.19 (0.25%)

IMBBY

Imperial Brands

$0.00

(0.00%)

  • 17

    Oct

  • 12

    Nov

BTI British American Tobacco
$34.69

0.21 (0.61%)

09/12/19
SBSH
09/12/19
NO CHANGE
SBSH
E-vapor regulation to hit Juul hard, 'odd time' for merger talks, says Citi
The Trump Administration said yesterday that it will "clear" the market of all non-tobacco flavored e-vapor products, including mint and menthol, Citi analyst Adam Spielman tells investors in a research note. The analyst had hoped the rules would have little impact on Juul as it has stopped supplying fruit flavors to physical stores. However, Trump's proposal is likely to hit Juul hard, as about three-quarter of its volume is in mint, says Spielman. Further, he believes at least half of British American Tobacco's (BTI) and IImperial Brands' (IMBBY) e-vapor volumes in the U.S. will be banned under the new definition. This all reinforces that this is an "odd time" for Philip Morris (PM) and Altria Group (MO) to be in merger talks, contends Spielman. The analyst, who doubts Trump's announcement will affect the talks between the companies, says the future of tobacco regulation in the U.S. is unclear currently. "We can only assume the companies have chosen to talk now because they are very confident about the outcomes. We, by contrast, see plenty of risk," writes Spielman.
08/28/19
JPMS
08/28/19
NO CHANGE
JPMS
Neutral
Philip Morris selloff on Altria merger talks overdone, says JPMorgan
JPMorgan analyst Celine Pannuti views the selloff in shares of Philip Morris (PM) following confirmation of the company's merger talks with Altria Group (MO) as overdone. The deal leads to value accretion at no premium and U.S. regulatory risks are already embedded in the sector de-rating, Pannuti tells investors in a research note. The analyst also sees the weakness in British American Tobacco (BTI) shares as a buying opportunity. The consideration of a merger between Philip Morris and Altria is a vote of confidence in the U.S. combustibles profit pool, contrary to current market sentiment, says Pannuti. The analyst keeps a Neutral rating on Philip Morris with an $86 price target.
08/27/19
SBSH
08/27/19
NO CHANGE
SBSH
Citi sees no antitrust reason to stop Philip Morris, Altria deal
Citi analyst Adam Spielman is surprised by the merger talks between Philip Morris (MO) and Altria Group (MO) but feels the deal is likely to go ahead as he sees no antitrust reason to stop it. With the combined company likely a stronger competitor, the potential deal is not a positive for both British American Tobacco (BTI) and Imperial Brands (IMBBY), Spielman tells investors in a research note.
07/16/19
WELS
07/16/19
NO CHANGE
WELS
Wells says Nielsen restatement could be positive for Monster, tobacco stocks
Wells Fargo analyst Bonnie Herzog noted that Nielsen (NLSN) just announced that it will restate data to address serious issues with its calculation methodology in the convenience store channel related to projections it applied to independent c-stores. The restated data, to be released on August 20, is expected to improve cigarette and energy drink trends and she views this as a positive for tobacco stocks and Monster Beverage (MNST). Publicly traded companies in the tobacco space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).
MO Altria Group
$43.15

0.7 (1.65%)

10/10/19
ARGS
10/10/19
NO CHANGE
Target $60
ARGS
Buy
Argus backs Buy rating on Altria despite legislative pressure
Argus analyst David Coleman maintained a Buy rating and $60 price target on Altria Group. In a research note to investors, Coleman says that while Altria is facing pressure from legislative efforts to limit sales of e-vapor products in the wake of recent deaths associated with vaping devices, he believes that consumers will continue to view vaping products as a more acceptable nicotine delivery system than traditional cigarettes or chewing tobacco, and that the use of these products will continue to grow despite legislative restrictions. The analyst notes that Altria still derives most of its revenue from smokeable products, including brands like Marlboro, and that smokeless products accounted for just 12% of net revenue in Q2.
10/07/19
WELS
10/07/19
NO CHANGE
WELS
Outperform
Altria Group's competitive moat widens with iQOS, says Wells Fargo
Wells Fargo analyst Bonnie Herzog reiterates an Outperform rating on Altria Group following her private tour of the new iQOS store/formats that launched in Atlanta. The analyst says that her discussions with the company's management reinforced her belief that iQOS holds a distinct competitive advantage in the U.S. given it's the only RRP authorized by the FDA that will also be allowed to sell mint/menthol flavors in the event the FDA clears the market of non-tobacco flavor variants. While it is hard to say how long it could take others to win FDA authorization, given it took iQOS about two years, Herzog believes the FDA's standard is high. As such, she sees the removal of e-cigarette flavors only widening iQOS' competitive moat.
10/01/19
BOFA
10/01/19
UPGRADE
Target $96
BOFA
Buy
Philip Morris upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Lisa Lewandowski upgraded Philip Morris (PM) to Buy with a price target of $96 after the suspended merger discussions with Altria (MO) amid the heightened risk for U.S. vaping category following reports of lung health concerns. The analyst notes that the whole industry may be impacted by uncertainty around vaping, but she sees Philip Morris rising above the "noise" due to its lack of vaping exposure, strong underlying fundamentals, and potential for offering alternatives to vaping products.
09/26/19
WELS
09/26/19
NO CHANGE
WELS
Wells Fargo not surprised Philip Morris, Altria Group ended merger talks
Wells Fargo analyst Bonnie Herzog says that while she is dismayed by the announcement that Philip Morris (PM) and Altria (MO) have ended merger talks, she is not all that surprised given the length of negotiations and the litany of negative FDA/health headlines throughout. The analyst expects the stocks to trade up sharply since "clearly the market wasn't in favor of this combination." Herzog adds that it appears to her the talks fell apart over JUUL and the companies announced they have agreed to focus on launching iQOS in the U.S. "as part of their mutual interest to achieve a smoke free future." The analyst continues to believe Philip Morris/Altria have a competitive advantage, especially in this environment, with iQOS. She continues to "strongly recommend" both stocks, with Philip Morris remaining her top stock pick.
PM Philip Morris
$77.64

0.19 (0.25%)

10/01/19
10/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ericsson (ERIC) upgraded to Buy from Hold at Canaccord with analyst Michael Walkley saying since the Q2 earnings report, Ericsson has announced deals with Nex-Tech, RINA, and KDDI, demonstrating continuing 5G momentum. 2. VMware (VMW) upgraded to Outperform from Market Perform at Wells Fargo with analyst Philip Winslow saying investors have been concerned that growing interest in deploying containerized applications into Kubernetes-centric environments will eventually reduce customer demand for VMware's virtualization-centric product portfolio. 3. Tradeweb Markets (TW) upgraded to Overweight from Equal Weight at Barclays with analyst Jeremy Campbell saying recent weakness in the shares "seems largely technical," which presents an "attractive upside opportunity." 4. Scotts Miracle-Gro (SMG) upgraded to Neutral from Underperform at BofA/Merrill with analyst Christopher Carey saying the bar on the company's earnings consensus may be "too low." 5. Philip Morris (PM) upgraded to Buy from Neutral at BofA/Merrill with analyst Lisa Lewandowski citing the suspended merger discussions with Altria (MO) amid the heightened risk for U.S. vaping category following reports of lung health concerns. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/19
BOFA
10/01/19
UPGRADE
BOFA
Buy
Philip Morris upgraded to Buy from Neutral at BofA/Merrill
IMBBY Imperial Brands
$0.00

(0.00%)

05/28/19
SBSH
05/28/19
NO CHANGE
SBSH
Cigarette data from Nielsen 'dire,' industry data also 'very bad,' says Citi
Citi analyst Adam Spielman noted that Nielsen reported earlier today that cigarette industry volumes fell 11.2% in the four weeks ended May 18, noting that shares of Altria (MO), British American Tobacco (BTI) and Imperial (IMBBY) all fell following the "dire" data. Volumes in MSAi, the industry database that he regards as much more reliable than Nielsen, were down 6.4% in the same period, which Spielman said "is still a very bad figure, but it is a lot, lot better than the Nielsen one." Looking ahead, the analyst said he expects "gradually less bad" volumes in Nielsen in the rest of the year, though he noted that Altria has said it expects industry volumes to fall about 4%-5% this year and he forecasts a decline of about 6%. In late afternoon trading, Altria shares are down 4.5%, British American has declined over 4% and Philip Morris (PM) is down 5%.
03/28/19
SBSH
03/28/19
UPGRADE
SBSH
Buy
Imperial Brands upgraded to Buy from Neutral at Citi
Citi analyst Adam Spielman upgraded Imperial Brands to Buy from Neutral and raised his price target for the shares to GBP 30 from GBP 27. 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.

TODAY'S FREE FLY STORIES

09:13
10/18/19
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Conference/Events
Federal Reserve Board of Governors Vice Chairman Clarida speaks on the economy »

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DPZ

Domino's Pizza

$256.49

0.465 (0.18%)

09:13
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SWM

Schweitzer-Mauduit

$37.64

1.2 (3.29%)

09:11
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Hot Stocks
SWM appoints Omar Hoek as EVP, engineered papers »

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MNRL

Brigham Minerals

$19.53

0.825 (4.41%)

09:09
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Brigham Minerals initiated  »

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AXP

American Express

$119.17

1.76 (1.50%)

, KO

Coca-Cola

$53.80

0.31 (0.58%)

09:09
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Fly Intel: Pre-market Movers »

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AXP

American Express

$119.17

1.76 (1.50%)

KO

Coca-Cola

$53.80

0.31 (0.58%)

SNAP

Snap

$13.78

0.11 (0.80%)

M

Macy's

$15.78

-0.01 (-0.06%)

LB

L Brands

$18.10

0.3 (1.69%)

GPS

Gap

$17.58

0.04 (0.23%)

SYF

Synchrony

$33.97

0.48 (1.43%)

SLB

Schlumberger

$31.90

-0.06 (-0.19%)

ISRG

Intuitive Surgical

$529.22

-1.25 (-0.24%)

STT

State Street

$59.71

0.57 (0.96%)

CSX

CSX

$69.78

0.79 (1.15%)

SXT

Sensient

$66.57

0.4 (0.60%)

GNTX

Gentex

$27.57

-0.01 (-0.04%)

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    Nov

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    Nov

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    Nov

  • 06

    Dec

BOCH

Bank of Commerce Holdings

$10.94

0.02 (0.18%)

09:09
10/18/19
10/18
09:09
10/18/19
09:09
Earnings
Bank of Commerce Holdings reports Q3 EPS 26c, two est. 24c »

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D

Dominion

$82.38

0.58 (0.71%)

09:09
10/18/19
10/18
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09:09
Hot Stocks
Dominion and Virginia partner for renewable energy in state facilities »

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    Nov

09:08
10/18/19
10/18
09:08
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09:08
Conference/Events
Federal Reserve Bank of Minneapolis president participates in a summit »

Minneapolis Federal…

CCK

Crown Holdings

$67.48

3.98 (6.27%)

09:07
10/18/19
10/18
09:07
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09:07
Recommendations
Crown Holdings analyst commentary  »

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CERN

Cerner

$68.11

-0.05 (-0.07%)

09:07
10/18/19
10/18
09:07
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09:07
Hot Stocks
Cerner to acquire IT consulting and engineering firm AbleVets »

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  • 24

    Oct

EGBN

Eagle Bancorp

$43.20

0.67 (1.58%)

09:07
10/18/19
10/18
09:07
10/18/19
09:07
Downgrade
Eagle Bancorp rating change  »

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  • 13

    Nov

EQH

AXA Equitable

$21.52

0.16 (0.75%)

, STI

SunTrust

$67.58

-0.7 (-1.03%)

09:05
10/18/19
10/18
09:05
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09:05
Hot Stocks
AXA Equitable appoints Stephanie Withers as chief auditor »

AXA Equitable (EQH)…

EQH

AXA Equitable

$21.52

0.16 (0.75%)

STI

SunTrust

$67.58

-0.7 (-1.03%)

03/08/13
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  • 12

    Nov

ACU

Acme United

$19.50

-0.22 (-1.12%)

09:05
10/18/19
10/18
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09:05
Earnings
Acme United sees FY19 EPS approx. $1.48, two est. $1.48 »

Previous guidance…

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  • 18

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09:05
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General news
U.S. equities are little changed, »

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General news
Fedspeak highlights today's session wtih Kaplan, George, and VC Clarida »

Fedspeak highlights…

FRO

Frontline

$10.85

0.28 (2.65%)

, NAT

Nordic American Tankers

$3.95

-0.05 (-1.25%)

09:04
10/18/19
10/18
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09:04
Upgrade
Frontline, Nordic American Tankers, Euronav NV, Scorpio Tankers, Teekay Tankers rating change  »

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FRO

Frontline

$10.85

0.28 (2.65%)

NAT

Nordic American Tankers

$3.95

-0.05 (-1.25%)

EURN

Euronav NV

$11.04

0.345 (3.23%)

STNG

Scorpio Tankers

$35.53

0.29 (0.82%)

TNK

Teekay Tankers

$2.13

0.095 (4.67%)

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  • 29

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CMG

Chipotle

$828.09

5.28 (0.64%)

09:04
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  • 22

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ACU

Acme United

$19.50

-0.22 (-1.12%)

09:03
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Earnings
Acme United reports Q3 EPS 30c, two est. 28c »

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  • 18

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SON

Sonoco

$57.22

-1.05 (-1.80%)

09:03
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Upgrade
Sonoco rating change  »

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09:02
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Conference/Events
Morgan Stanley specialty pharma analyst to hold analyst/industry conference call »

Specialty Pharmaceuticals…

NVR

NVR

$3,768.86

72.73 (1.97%)

09:02
10/18/19
10/18
09:02
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09:02
Earnings
NVR reports Q3 EPS $56.11, consensus $51.22 »

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AMGN

Amgen

$203.60

0.32 (0.16%)

09:02
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Hot Stocks
Amgen announces FDA approval of sBLA for Nplate »

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AXP

American Express

$119.17

1.76 (1.50%)

08:59
10/18/19
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08:59
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08:59
Earnings
Breaking Earnings news story on American Express »

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  • 18

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KO

Coca-Cola

$53.80

0.31 (0.58%)

08:58
10/18/19
10/18
08:58
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08:58
Hot Stocks
Coca-Cola says nearly 100% hedged on G10 currencies for 2020 »

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  • 18

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KRC

Kilroy Realty

$78.31

0.21 (0.27%)

, HPP

Hudson Pacific

$33.63

0.22 (0.66%)

08:57
10/18/19
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08:57
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08:57
Recommendations
Kilroy Realty, Hudson Pacific analyst commentary  »

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KRC

Kilroy Realty

$78.31

0.21 (0.27%)

HPP

Hudson Pacific

$33.63

0.22 (0.66%)

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