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Altria Group has been the standout in Big Tobacco this year, and Goldman Sachs argues that strength looks set to continue, thanks to its defensive, domestic-focused business, making it a better buy than Philip Morris International.
Analyst Bonnie Herzog raised her rating on Altria (ticker: MO) to Buy from Neutral and her price target to $57 from $48. By contrast, she cut her rating on Philip Morris (PM) to Neutral from Buy, and lowered her price target to $100 from $116.