Altria Group price target raised to $72 from $64 at BofA

BofA raised the firm’s price target on Altria Group (MO) to $72 from $64 and keeps a Buy rating on the shares after the company upped its dividend as expected. The firm thinks the shares deserve a higher multiple as Altria “emerges from its regulatory overhang.” Nicotine stocks continue to outperform and Altria’s “Optimize and Innovate” program, pricing power, and more favorable regulatory oversight under President Trump should support share appreciation through 2025, the analyst tells investors in a research note.