Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Adam Eckert

Why Altria Stock Is Falling Today

Altria Group Inc (NYSE:MO) shares are trading lower Wednesday following bearish analyst coverage from Morgan Stanley.

Morgan Stanley analyst Pamela Kaufman downgraded Altria from an Equal-Weight rating to an Underweight rating and announced a $50 price target, citing lower cigarette sales volumes as a result of rising gas and food prices.

Kaufman now expects cigarette industry volumes to be down 7.5% in 2022. As a result, the risk-reward potential of Altria is skewed to the downside, the Morgan Stanley analyst added.

Related Link: Morgan Stanley Downgrades Altria Group On Growing Headwinds

MO Price Action: Altria shares have a 52-week high of $57.05 and a 52-week low of $42.53.

The stock was down 7.01% at $50.23 at press time, according to data from Benzinga Pro.

Photo: Myriams-Fotos from Pixabay.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.