Argus Upgrades Altria (MO) to Buy
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Get Alerts MO Hot Sheet
9 Buy, 11 Hold, 2 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 14 | Down: 3 | New: 43
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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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