Citi Downgrades Altria (MO)

Citi Investment Research is downgrading Altria Group, Inc. MO to Hold, but has a $27 price target on shares. In a note to cleints, Citi writes, "Early signs of headwinds are evident, and MO's shares are trading at peak multiples. While MO represents a solid core holding, given its enviable portfolio, high-quality management team and attractive dividend, we would not be putting new money to work at these levels." Shares of MO gained 2 cents yesterday to close at $25.23.