The Vetr crowd downgraded its rating on Altria Group Inc (NYSE:MO) Wednesday from the stock's prior rating of 4 stars (Buy), issued nine days ago, to 2.5 stars. Crowd sentiment at the time of the downgrade was generally cautious, with 62 percent of Vetr user ratings bearish.
Share price in the holding company, whose stable of businesses includes several tobacco companies such as Philip Morris, experienced a recent bump of more than 6 percent over the past 10 trading days. The positive trend is due in part to a May 25 announcement from the company regarding FDA trials of a what they are calling a Modified Risk Tobacco Product aimed at offering a less harmful option for smokers.
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In tandem with this announcement, analysts with Piper Jaffray initiated coverage on Altria Group at Overweight with a price target of $76. The stock was trading at around $74.50 as of 2 p.m. ET Wednesday.
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Currently, the Vetr crowd's average target price for Altria Group is down at $72.19, which is still above the average analyst target price of $71.55. Less than 2 percent of Vetr users are holding Altria Group in their watch-lists.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.