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Fly News Breaks for March 4, 2020
Mar 4, 2020 | 08:52 EDT
BofA analyst Lisa Lewandowski lowered the firm's price target on Altria Group (MO) to $55 from $58 and keeps a Buy rating on the shares after the firm downgraded Anheuser-Busch InBev (BUD) to Neutral, noting that Altria owns 10.1% of Anheuser-Busch. Lewandowski tells investors in a research note that tough comps and coronavirus are expected to weight on Anheuser-Busch. On Altria, Lewandowski says she sees the company as best positioned to manage changes in the U.S. tobacco category given its "total tobacco" strategy, which gives Altria flexibility as the market evolves.