Bank Of America Maintains Buy Rating On Altria

According to Bank of America, Altria (NYSE: MO) Buy rating is maintained.

Bank of America said that it spent some time with Altria's senior management and investors last week and found management to be confident in its premium brand strategy, consistent in its focus on cigarette profitability and highly committed to paying strong/growing dividends to shareholders. “While there were some questions (as expected) around recent Marlboro share performance as well as the implications of its recently adopted “MLP” retail program, management did a good job in our view of taking investors through their thought process and strategies.”

Altria closed yesterday at $28.06.