BofA lowered the firm’s price target on Altria Group to $47 from $49 and keeps a Neutral rating on the shares, citing market pressures and refreshed 2024 EPS estimates. Scanner data for the 12-weeks ending September 9 suggested continued cigarette downtrading and weak industry/company volumes, partly offset by strength from nicotine pouches, reports the analyst, who cut the firm’s 2024 EPS view by 2c to $5.21.
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