Altria (MO) Numbers Trimmed at Jefferies on ABI One Qtr Lag

November 15, 2016 7:16 AM EST
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Price: $67.58 --0%

Rating Summary:
    10 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 3
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Jefferies analyst Owen Bennett trimmed numbers on Hold-rated Altria (NYSE: MO) to $68.00 (from $70.00) to reflect ABI one quarter lag.

commented, "We lower our FY16 adjusted EPS by 6 cents to US$3.01, largely driven by a one quarter reporting lag on ABI. While ABI accretion should ensure FY17 earnings growth of c10% (ahead of its growth algorithm of 7%-9%), we do see possible downward pressure on the multiple in FY17 due to expected share loss on Marlboro (meaning EBIT development should be lackluster)."

The firm trimmed FY 2016 EPS from $3.36 to $3.29 and FY 20174 EPS from $3.59 to $3.55.

For an analyst ratings summary and ratings history on Altria click here. For more ratings news on Altria click here.

Shares of Altria closed at $61.19 yesterday.

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