Overview
- Altria shares gained about 10% as investors responded to steady profit growth, according to S&P Global Market Intelligence.
- In the first quarter, smokeable net revenue rose 5.2% and operating income rose 8.3% as higher pack prices more than offset falling cigarette volumes.
- The company is rolling out its on! PLUS nicotine pouches nationwide and is using short-term discounts to spur trials in stores.
- Jefferies reported the on! unit price at about $4.60 versus a $3.00 52-week average, which points to a premium strategy versus rivals like Velo and ZYN.
- Stifel reaffirmed a Buy rating with a $68 price target and Jefferies named Altria a top tobacco pick, while Yahoo Finance noted a higher P/E near 15 and a lower 5.6% dividend yield that could curb buyback power and future returns.