Stifel analyst Matthew Smith, CFA maintains $Altria (MO.US)$ with a buy rating, and sets the target price at $60.
According to TipRanks data, the analyst has a success rate of 60.0% and a total average return of 14.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Altria (MO.US)$'s main analysts recently are as follows:
Analysts acknowledge Altria Group's recent initiative 'Optimize & Accelerate,' aimed at generating substantial savings over the coming five years to reinvest in driving revenue growth, as a favorable development in light of the company's smoke-free vision progress thus far. It is suggested that the nearly 8% surge in the stock's value could be more indicative of a transition from other underperforming staple stocks towards the more stable tobacco sector, rather than being solely reflective of the company's third-quarter performance and prospects.
Altria Group's Q3 outcomes showed solid performance amidst challenging economic conditions, leading to substantial net price realization and renewed OCI dollar profit growth in the Smokeables sector. Although the cigarette inventory timing advantage is expected to revert in Q4, it's anticipated to be largely counterbalanced by an extra shipping day, which could provide a comparable benefit to Q3.
Altria Group showcased a robust profit performance in its Smokeable business, which benefited from unexpectedly favorable inventory movements, leading to a stronger third quarter business performance than anticipated. This quarter's EPS beat was influenced by inventory factors, but the reassuring profitability of the Smokeable business was particularly notable as the company has been dealing with increased investment levels from the previous year. The company's medium-term guidance appears achievable, supported by a new $600M cost savings plan that is expected to provide capital for reinvestment in smoke-free products.
Note:
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