1611 ET - Altria's current valuation is too high given the company has been offsetting cigarette volume declines through pricing, UBS analysts say in a research note. The maker of Marlboro cigarettes' combination of double digit cigarette volume declines and limited progress in smoke-free means Altria's net income could decline in FY26 and FY27, the analysts say, noting that their EPS estimates are 4.4% and 7.5% below consensus. Overall, the analysts project cigarette shipments to decline 13% in the first quarter, including a 160 basis points share loss that would result in smokeable net sales being down 2.9%. Shares fell 2% to $58.79. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 01, 2025 16:11 ET (20:11 GMT)
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