Argus Upgrades Altria (MO) to Buy

Argus upgraded Altria (NYSE: MO) from Hold to Buy with a price target of $68.00.

The analyst said Altria has a strong balance sheet, an attractive dividend yield, and top-selling brands (such as Marlboro) that are able to command premium pricing. It has also lessened its exposure to tobacco industry risks by expanding into nontobacco-related businesses.

The firm is raising 2016 adjusted EPS estimate to $3.07 from $2.95, based on current sales and margin trends. The firm is also raising 2017 estimate to $3.36 from $3.26, versus the consensus of $3.31.

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 $62.93 yesterday.

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