2024-06-17 04:14:18 ET
Summary
- The US tobacco industry evolving with vaping, e-cigarettes, reduced risk products.
- Altria struggling to adapt, stock performance lagging behind peers and S&P 500.
- Altria stock rated as sell due to continued decline in smoking rates, lack of product portfolio diversification, and overvaluation.
Markets evolve and companies have to adapt. While most industries are cyclical, there are also times when secular evolution occurs that forces corporations to fundamentally change their core businesses. Today, the pace of innovation and technological progress is faster than ever, and many sectors are undergoing both significant and fast-moving changes....
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The U.S. Tobacco Market Is Changing Rapidly And Altria Is Finding It Difficult To Adapt