Altria Group assumed with a Sell at UBS

UBS assumed coverage of Altria Group with a Sell rating with a price target of $36.10, down from $39.20. While Marlboro’s brand strength, market access and digitally-enabled revenue management capabilities are best-in-class, the group is facing headwinds from a more challenged U.S. market, where it is investing behind lower-priced Marlboro Black, the analyst tells investors in a research note. Altria’s attempts to catch up in next-generation products will prove difficult, the firm argues, resulting in Altria’s share of the nicotine category declining.