Altria Raises Price Target to $65, Upholds Nearly 7% Dividend and Smoke-Free Strategy
Citigroup lifted its price target on Altria from $57 to $65 while maintaining a Neutral rating, reflecting confidence in the company’s outlook. Altria supports a nearly 7% dividend yield and emphasizes smoke-free product development backed by FDA approvals and strategic acquisitions.
1. Analyst Rating and Price Target Raise
Citigroup maintained a Neutral rating on Altria while increasing its price target from $57 to $65, signalling a more optimistic view of the company’s ability to sustain earnings and cash flow under current market conditions.
2. Dividend Yield and Shareholder Returns
Altria offers a robust dividend yield of nearly 7%, supported by regular share buybacks and disciplined leverage management that preserve cash flow and uphold its income-focused profile for investors.
3. Smoke-Free Product Strategy
The company continues to pivot toward smoke-free products, leveraging recent FDA approvals and targeted acquisitions to expand its reduced-risk portfolio and position itself for long-term growth beyond traditional tobacco offerings.
4. Stock Performance and Market Metrics
Altria’s market capitalization stands around $109.8 billion. Its shares recently traded near $65.40 with an intraday range of $65.08 to $65.92, a 52-week span of $52.40 to $68.60, and daily volume of approximately 6.86 million shares.