Altria: shares fall after downgrade
(CercleFinance.com) - Shares of US tobacco giant Altria fell 1.
5% to 58.9 dollars in early trading hours on Friday after an analyst downgraded the stock.
In a research note sent to investors, Jefferies & Co analysts wrote that they have downgraded their rating on the stock from "buy" to "hold," citing renewed Marlboro pressure and concerns around the delay on the iQOS tobacco device approval.
The broker has cut its target price for the share from 70 dollars to 61 dollars.
Since 1 January, Altria shares have fallen by 17%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5% to 58.9 dollars in early trading hours on Friday after an analyst downgraded the stock.
In a research note sent to investors, Jefferies & Co analysts wrote that they have downgraded their rating on the stock from "buy" to "hold," citing renewed Marlboro pressure and concerns around the delay on the iQOS tobacco device approval.
The broker has cut its target price for the share from 70 dollars to 61 dollars.
Since 1 January, Altria shares have fallen by 17%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.