Altria (MO) Numbers Trimmed at Jefferies on ABI One Qtr Lag
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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.
Shares of Altria closed at $61.19 yesterday.
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