Altria Group price target raised to $50 from $45 at Stifel

Stifel analyst Matthew Smith raised the firm’s price target on Altria Group to $50 from $45 and keeps a Buy rating on the shares. The firm, which notes that tobacco stocks underperformed the market in the fourth quarter but again outperformed Consumer Staples, maintains its positive outlook for tobacco stocks in front of Q4 earnings. The firm’s Buy rating reflects Altria’s discount valuation and dividend yield, resilient Marlboro performance, and building smoke-free prospects, the analyst tells investors in a group earnings preview.