18 days ago • Posted by William Ramstein
Altria stock sees rating changed to buy from hold despite less smokers
Altria is one of the world's largest producers and marketers of tobacco, cigarettes and related products. The stock is trading higher Friday following an upgrade from Jefferies, which argues that the tobacco giant is more resilient than the market realizes, even as traditional cigarette use declines. Analyst Owen Bennett raised his rating on Altria (ticker: MO) to Buy from Hold and his price target to $58 from $40.