Markets

Altria and Lorillard both Downgraded to “Hold” at Citigroup (MO, LO)

Tobacco giants Altria Group, Inc. ( MO ) and Lorillard Inc. ( LO ) both were downgraded to "Hold" on Friday by analysts at Citigroup.

The firm said it downgraded MO based on valuation, as the stock has nearly reached the firm's $27 price target. Altria shares closed at $25.23 on Thursday.

Meanwhile, Citigroup said it downgraded LO to "Hold" because of possible menthol regulations on the horizon, which continue to hang over the stock. The firm has a $95 price target set on LO, which had closed at $88.38 on Thursday.

Altria shares fell 23 cents, or -0.9%, while Lorillard shares were mostly flat in premarket trading Friday.

The Bottom Line

Shares of Altria Group ( MO ) have a 6.02% dividend yield, based on last night's closing stock price of $25.23.

Shares of Lorillard ( LO ) have a 5.09% dividend yield, based on last night's closing stock price of $88.38.

Altria Group, Inc. ( MO ) and Lorillard Inc. ( LO ) are both "Recommended" dividend stocks, holding Dividend.com DARS™ Ratings of 3.7 and 3.5 stars, respectively.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MO

Other Topics

Stocks