UPDATE: UBS Downgrades Altria (MO) to Neutral; Valuation Call
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Price: $37.34 -0.27%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 6
Trade MO Now!
(Updated - July 26, 2012 2:20 PM EDT)
UBS downgraded Altria (NYSE: MO) from Buy to Neutral. PT maintained at $35.
Analyst, Nik Modi, said, "Our Buy thesis on MO had been based on 3 pillars: 1) stabilization in Marlboro share, 2) increases in cash distribution (buy backs/divs) and 3) consistent delivery of EPS---all of which we believed would lead to multiple expansion. Indeed, with these factors playing out and investors clearly looking to get more defensive, MO shares are up 20% YTD (vs. S&P 500 up 6.%), putting the stock close to our target."
Modi comments to investor looking for yield, says try Lorillard (NYSE: LO)(4.60%) or new yield in Energizer (NYSE: ENR)(approx. 2% starting in Sept)
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 $35.40 yesterday, with a 52 week range of $23.20-$36.05.
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UBS downgraded Altria (NYSE: MO) from Buy to Neutral. PT maintained at $35.
Analyst, Nik Modi, said, "Our Buy thesis on MO had been based on 3 pillars: 1) stabilization in Marlboro share, 2) increases in cash distribution (buy backs/divs) and 3) consistent delivery of EPS---all of which we believed would lead to multiple expansion. Indeed, with these factors playing out and investors clearly looking to get more defensive, MO shares are up 20% YTD (vs. S&P 500 up 6.%), putting the stock close to our target."
Modi comments to investor looking for yield, says try Lorillard (NYSE: LO)(4.60%) or new yield in Energizer (NYSE: ENR)(approx. 2% starting in Sept)
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 $35.40 yesterday, with a 52 week range of $23.20-$36.05.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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