Altria Group price target lowered to $53 from $57 at BofA

BofA analyst Lisa Lewandowski lowered the firm’s price target on Altria Group to $53 from $57 and keeps a Neutral rating on the shares. Scanner data for the 12 weeks ending September 21 suggested continued cigarette/moist smokeless volume weakness, largely offset by strong price/mix and vapor/oral nicotine growth, says the analyst, who trimmed the firm’s target citing modest staples softness since the start of Q3.