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Altria Could Grow Earnings at Double-Digit Pace Through 2020: Barron's

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Tuesday, 13 March 2018 02:47 PM

Altria Group Inc., best known as the maker of Marlboro cigarettes, could grow earnings at a double-digit yearly pace through 2020, according to an analyst in a recent Barron’s article.

Bonnie Herzog of Wells Fargo Securities predicts the U.S. Food and Drug Administration will approve Philip Morris’ IQOS (I-Quit-Ordinary Smoking), a system that heats tobacco cigarettes rather than burns them, as soon as this year.

Like vaping, IQOS is said to offer reduced risks compared to smoking, while better matching the cigarette experience, according to the article.

Herzog has a price target of $85 on Altria, which would be up about 30 percent from recent levels. The stock closed at $65.65 on Friday.

© 2018 Thomson/Reuters. All rights reserved.

   
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Altria Group Inc., best known as the maker of Marlboro cigarettes, could grow earnings at a double-digit yearly pace through 2020, according to an analyst in a recent Barron's article.Bonnie Herzog of Wells Fargo Securities predicts the U.S. Food and Drug Administration...
altria, barrons, earnings, grow
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2018-47-13
Tuesday, 13 March 2018 02:47 PM
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