Article Thesis
Altria (MO) will continue to generate solid results over the coming quarters, as it did during Q1. Due to the recession-resilient business model, Altria would most likely even perform in a solid way in case there is a second wave of the coronavirus pandemic.
Altria's shares continue to trade at a very inexpensive valuation and at a discount to historic norms, while also offering an attractive dividend yielding around 8% at current prices. The huge spread between Altria's current dividend yield and the yield investors can get from treasuries means that