Argus Upgrades Altria (MO) to Buy

May 9, 2016 8:11 AM EDT
Get Alerts MO Hot Sheet
Price: $44.26 -0.78%

Rating Summary:
    9 Buy, 11 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 3 | New: 43
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Upgrades

Related Entities