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MO

Altria Group

$49.72

-0.04 (-0.08%)

, PM

Philip Morris

$83.50

1.02 (1.24%)

06:38
12/02/19
12/02
06:38
12/02/19
06:38

Citi 'getting much more bullish' on cigarettes, upgrades Altria to Buy

Citi analyst Adam Spielman upgraded Altria Group to Buy from Neutral with a price target of $60, up from $47. It is becoming hard to argue that "tobacco is being disrupted," Spielman tells investors in a research note. He believes investors will start to care less about "reduced risk products" and points out that traditional tobacco companies have fallen to price-to-earnings multiples last seen when litigation meant bankruptcy was a realistic prospect. As a result, Spielman is "getting much more bullish on the cigarette companies." He upgraded Altria Group while downgrading Philip Morris (PM) to Neutral with an unchanged price target to $90.

MO

Altria Group

$49.72

-0.04 (-0.08%)

PM

Philip Morris

$83.50

1.02 (1.24%)

  • 30

    Jan

MO Altria Group
$49.72

-0.04 (-0.08%)

10/18/19
10/18/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Altria Group (MO) upgraded to Neutral from Sell at Citi with analyst Adam Spielman saying he now expects "less bad" cigarette volumes next year. 2. Snap (SNAP) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post saying the stock has sold off despite "solid" industry and advertising spend channel checks. 3. Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill with analyst Gregory Francort saying he expects the company to generate better comps and margins over the near term given its "strong" sales momentum and normalizing avocado prices, even though he is "struggling" with the valuation on the stock. 4. Republic Services (RSG) upgraded to Buy from Neutral at BofA/Merrill with analyst Michael Feniger calling the stock "a more balanced way" to gain exposure to the theme of higher disposal pricing than peer Waste Management (WM), which he downgraded this morning. 5. Waste Connections (WCN) upgraded to Overweight from Sector Weight at KeyBanc with analyst Sean Eastman saying he expects Waste Connections to report an in-line Q3, and sees 2019 guidance remaining intact. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/19/19
STFL
11/19/19
NO CHANGE
STFL
Buy
Altria slide on Juul lawsuit news 'irrational and illogical,' says Stifel
Stifel analyst Christopher Growe said he views Altria's 2% pullback on news that New York's Attorney General is filing a lawsuit against Juul as "both irrational and illogical" given the fact that Altria does not share in this legal liability. Additionally, the value of Juul has already been written down to $8.3B and he believes the actual value embedded in Altria's nearly $90B in equity value is "only a fraction" of that amount. Growe, who thinks today's volatility in the price of Altria shares is "unwarranted" and presents a strong buying opportunity, keeps a Buy rating on the stock.
11/22/19
PIPR
11/22/19
NO CHANGE
Target $52
PIPR
Neutral
Altria checks show 'promising' prospects for iQOS, says Piper Jaffray
Piper Jaffray analyst Michael Lavery says that after his channel checks of the Atlanta iQOS test market, he believes prospects for its U.S. launch are "promising." Altria Group has many tools to responsibly market iQOS, making it visible to a broad audience of adult smokers without attracting underage users, Lavery tells investors in a research note. He believes believe iQOS could benefit as a vapor-free, smoke-free option for consumers. The analyst raised his price target for Altria shares to $52 from $49 and keeps a Neutral rating on the name.
12/02/19
SBSH
12/02/19
UPGRADE
SBSH
Buy
Altria Group upgraded to Buy from Neutral at Citi
Citi analyst Adam Spielman upgraded Altria Group to Buy from Neutral.
PM Philip Morris
$83.50

1.02 (1.24%)

10/01/19
BOFA
10/01/19
UPGRADE
BOFA
Buy
Philip Morris upgraded to Buy from Neutral at BofA/Merrill
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.
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.
12/02/19
SBSH
12/02/19
DOWNGRADE
SBSH
Neutral
Philip Morris downgraded to Neutral from Buy at Citi
Citi analyst Adam Spielman downgraded Philip Morris to Neutral from Buy.

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$28.67

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ADBE

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SRPT

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AMZN

Amazon.com

$1,760.44

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OHAI

OHA Investment

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ORCL

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ORCL

Oracle

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