Altria Group price target raised to $74 from $67 at UBS

UBS analyst Faham Baig raised the firm’s price target on Altria Group (MO) to $74 from $67 and keeps a Buy rating on the shares. U.S. cigarette volume declines appear to be moderating, with industry volumes expected to fall about 6% in Q1, the smallest drop since 2021, partly due to slowing growth in the vapor category and stabilizing nicotine penetration, the analyst tells investors in a research note. Price investment and strength in the deep-discount segment may also help stabilize Altria’s market share, potentially allowing its volume decline to track roughly in line with the broader market, the firm says.