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MO

Altria Group

NYSE: MO · CONSUMER DEFENSIVE · TOBACCO

$68.20
+0.59% today

Updated 2026-04-29

Market cap
$121.46B
P/E ratio
15.17
P/S ratio
6.03x
EPS (TTM)
$4.79
Dividend yield
—
52W range
$52 – $74
Volume
9.1M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Altria Group (MO) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$68.20
Consensus
$63.63
-6.70%
2030 Target
$144.67
+112.13%
DCF
$47.23
-39.57% MoS
9 analysts:
3 Buy4 Hold3 Sell

Management guidance

Altria reaffirmed 2026 full-year earnings guidance at the Consumer Analyst Group of New York Conference (February 2026). The company targets mid-single-digit dividend per share growth through 2028. No specific revenue targets were provided by management; guidance focuses on EPS and dividend growth rather than top-line revenue expansion.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$243.31
$20.2B Rev × 20x P/S
Base case (2030)
$144.67
$20.2B Rev × 12x P/S
Bear case (2030)
$98.64
$20.2B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$24.5B$20.4B$20.1B$20.8B$20.9B$20.8B$20.5B$20.2B
Revenue growth—-16.5%-1.5%3.5%0.3%-0.6%-1.3%-1.5%
EPS$4.95$5.13$5.42$5.79$6.01$6.15$6.25$6.32
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$151.25$151.25$151.25$144.67$144.67

Catalysts & risks

Growth catalysts
+ on! PLUS oral nicotine pouch nationwide expansion (launched March 2026) - smoke-free product transition
+ FDA-authorized nicotine pouch category growth and market acceptance in oral segment
+ Pricing power maintenance in core cigarette business offsetting volume declines
+ Successful transition away from combustible products (Juul settlement and NJOY regulatory issues behind company)
Key risks
- Structural cigarette volume declines accelerating beyond historical -2% to -3% annual rate due to regulatory pressures and shifting consumer preferences
- on! PLUS adoption slower than needed to offset cigarette revenue decline; smoke-free products may cannibalize margins
- Regulatory risk: potential menthol ban, additional taxation, or restrictions on oral nicotine products
- Investment losses: prior Cronos Group investment write-downs and Juul settlement costs limit financial flexibility
- International headwinds: PMI spinoff (completed 2008) means Altria lacks geographic diversification to offset U.S. market contraction

Methodology

Altria Group's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 9 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.