Stifel Nicolaus Has A Hold Rating On Altria (MO)

Christopher Growe, of Stifel Nicolaus, said in an interview on CNBC that he has a hold rating on Altria Group, Inc.

. He explained that Altria Group (

) and other tobacco stocks had a great run, and they are now less attractive than consumer staples or the market, on P/E multiple basis. He still believes that these stocks are good to hold, but he would not invest new money in the space. Fundamentals of the tobacco space are great now, and these companies are going to continue to report good earnings results in 2011, thinks Christopher Grow. He also noted that the litigation and the tax environment have improved for the tobacco sector. Altria Group, Inc.

currently trades 0.73% lower, around $25.