According to a research report from Goldman Sachs, Altria MO came up $0.01 below consensus, however, Goldman Sachs expects generally in-line results for the remainder of the quarter.
Goldman Sachs reported, “We do not expect robust results from the cigarette segment as we expect there may be some trade de-load and pricing (expect +2.5%) could be softer due to promotions, particularly around Marlboro Black. However, solid growth from smokeless and a rebound from Middleton (on top of a particularly weak 1Q11) should help drive segment operating profit growth up 3.4% for the quarter.”
The market closed Friday at $31.49 as Goldman Sachs maintained a Neutral rating whilst raising their PT to $30.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in