Jefferies Starts Altria (MO) at Hold

September 21, 2016 6:43 AM EDT
Get Alerts MO Hot Sheet
Price: $70.01 +0.66%

Rating Summary:
    10 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies initiates coverage on Altria (NYSE: MO) with a Hold rating and a price target of $70.00.

Analyst Owen Bennett commented, "We initiate coverage on Altria with a Hold, a target price of $70 and see 12 month TSR of c16%. We expect Marlboro share pressures to hold back EBIT development over the next 18 months. Although a heightened buyback with SAB cash and accretion from the holding in a larger ABI should mean earnings remain robust and limit de-rating risk, we believe multiple progression could be limited from here."

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 $62.97 yesterday.

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