Tobacco sector upgraded to Overweight From Market Weight at Wells Fargo

theflyonthewall.com

After conducting a survey, Wells Fargo believes that tobacco industry trends are improving. The industry is benefiting from accelerating pricing and easing competition, and tobacco stock valuations are attractive, according to the firm. Wells maintains Outperform ratings on Altria (MO), Lorillard (LO) and Philip Morris (PM), and a Market Perform rating on Reynolds (RAI).

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