Altria: shares rise with broker's help
(CercleFinance.com) - Altria shares have risen by up to 2% today, after Jefferies upgraded the owner of Marlboro cigarettes line to "buy" as part of its global research on tobacco companies.
In the report, the broker says it remains bullish on the sector, citing tax reform and easing regulatory concerns.
"We also see potential for large-scale M&A which would add upside to our above consensus estimates," Jefferies says.
The broker also raised its rating on Philip Morris International to a "buy," prompting the shares to jump by about 1.8%.
Altria Group and Philip Morris International are now part of Jefferies' top three picks in the sector.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In the report, the broker says it remains bullish on the sector, citing tax reform and easing regulatory concerns.
"We also see potential for large-scale M&A which would add upside to our above consensus estimates," Jefferies says.
The broker also raised its rating on Philip Morris International to a "buy," prompting the shares to jump by about 1.8%.
Altria Group and Philip Morris International are now part of Jefferies' top three picks in the sector.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.