Altria is about to release earnings. With 80% of profits going to dividends ponder the Bull Case Scenario.
Altria controls 50% of the market in the United States. The products are clearly addictive and Altria has pricing power. Unemployed dead beats will pay an extra dime whenever they need to.
The Marlborough brand is huge some 42% of market. As regulations become tighter the opportunity for new brands or brand rotation diminishes and becomes almost non existent.
Altria does not have risks from input costs and can be expected to keep chugging along.
E-cigarettes are replacement products. However market adoption patterns are still to new to apply trends.
George Gutowski writes from a caveat emptor perspective.