Bank of America Securities Maintains Buy on Altria Group (MO)

Altria Group, Inc. (NYSE:MO) is one of the Best and Cheap Stocks to Buy Right Now. On September 23,  Lisa Lewandowski from Bank of America Securities maintained a Buy rating on Altria Group, Inc. (NYSE:MO), with a price target of $72.

The analyst noted the company’s partnership with KT&G Corp as a key step towards growth in the oral nicotine market. She noted that this includes acquiring a big stake in Another Snus Factory, thereby boosting the company’s position in the smoke-free product area. Moreover, the LOOP brand is also seen as a growth opportunity for the company due to the variety of its flavour collection and nicotine levels.

The analyst also likes Altria Group, Inc. (NYSE:MO)’s financial plans to optimize and innovate the program, and also supports the company’s efforts towards improving its pricing power. She highlighted that the regulatory framework looks favourable and supports the long-term growth outlook of the company.

Altria Group, Inc. (NYSE:MO) is a leading American tobacco company that provides a range of tobacco products for adult consumers aged 21 and older.

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Disclosure: None. This article is originally published at Insider Monkey.