On Nov 02, major Wall Street analysts update their ratings for $Altria (MO.US)$, with price targets ranging from $42 to $60.
BofA Securities analyst Lisa Lewandowski maintains with a hold rating, and maintains the target price at $55.
UBS analyst Faham Baig maintains with a sell rating, and adjusts the target price from $39 to $42.
Deutsche Bank analyst Damian McNeela initiates coverage with a buy rating, and sets the target price at $60.
Stifel analyst Matthew Smith, CFA maintains with a buy rating, and sets the target price at $60.
Furthermore, according to the comprehensive report, the opinions of $Altria (MO.US)$'s main analysts recently are as follows:
Altria Group's third quarter outcomes verified a hastening in growth, according to an analyst.
The new 'Optimize & Accelerate' Initiative by Altria Group, which aims to save approximately $600M over the coming five years to be reinvested in driving top line growth, is seen as a favorable development, especially considering the company's limited progress on achieving its Smoke-free Vision so far. The recent significant shift in the stock's performance is perceived as more of a rotation from other underperforming staples stocks to the relatively stable tobacco sector, rather than being solely based on the company's third-quarter performance and future prospects.
Altria Group's third-quarter outcomes showcased solid performance amid challenging economic conditions, reflecting substantial net price realization and a resurgence in dollar profit growth within its Smokeables segment. Although the benefit of cigarette inventory timing is expected to revert in the fourth quarter, it is anticipated to be largely balanced out by an extra shipping day, which is projected to have a comparable advantage to the third quarter.
Altria Group's robust profit performance in its Smokeable business exceeded expectations due to more favorable than anticipated inventory movements, leading to a strong third quarter business performance. The inventory factor played a role in the earnings per share surpassing estimates for the quarter, while the Smokeable business's profitability was encouraging, especially as the company navigated increased investment levels from the prior year. The firm expressed confidence in the company's potential to meet its medium-term guidance, citing a new $600M cost savings plan as a source of reinvestment into smoke-free products.
Here are the latest investment ratings and price targets for $Altria (MO.US)$ from 4 analysts:
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