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UPDATE: Stifel Nicolaus Upgrades Altria Group to Buy on Valuation, Yield

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Stifel Nicolaus upgraded Altria Group (NYSE: MO) from Hold to Buy and announced a $36.00 price target.

Stifel Nicolaus commented, "We've been increasingly attracted to the stock as it pulled back from the mid-$30 range and believe this represents a good place for investors to begin building positions. The outlook for Altria's business remains solid, in our view, as we estimate a continuation of the 8% EPS growth trajectory for the business with upside potential throughout the year. … We believe the stock has solid downside support afforded by its current 5.5% dividend yield which remains at a significant premium in relation to the 10-year treasury for example."

Altria Group closed at $31.90 on Wednesday.

Latest Ratings for MO

DateFirmActionFromTo
Jul 2016UBSMaintainsNeutral
Jun 2016BerenbergInitiates Coverage onBuy
May 2016Argus ResearchUpgradesHoldBuy

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Posted-In: Stifel NicolausAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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