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Altria Group Inc. Message Board

  • great_stox great_stox Apr 3, 2007 7:46 PM Flag

    S&P Reiterates Strong Buy on MO

    S&P REITERATES STRONG BUY OPINION ON SHARES OF ALTRIA GROUP

    5:29 PM ET
    This week, Kraft Foods (KFT 30.33*) became an entirely independent company after shareholders of MO received 0.692024 share of KFT for each share of MO owned as a tax-free stock dividend. This represents a $21.91 reduction in the cost basis for MO, making its adjusted close $65.90 at the ex-dividend. As a result, we have adjusted our 12-month target price for MO to $85. In addition, classifying estimated contribution from KFT as discontinued operations, we are adjusting our '07 EPS estimate for MO to $4.20 from $5.69. The adjusted dividend of $2.75 currently yields 3.95%.

 
MO
54.17+0.46(+0.86%)Aug 28 4:02 PMEDT