According to Zacks Investment Research, despite changing consumer preferences and macroeconomic uncertainty, Altria Group remains well-positioned to navigate the market's complexities in 2024.
Altria Group's resilience is due in part to its strong pricing power, which allows the tobacco maker to offset declining shipments with higher earnings per pack, according to the financial firm.
At the same time, Altria's investments in lower-risk products, such as e-cigarettes and nicotine pouches, position the company to capitalize on new market trends.
Additionally, the acquisition of Njoy gives Altria one of the few vapor products approved by the U.S. Food and Drug Administration for sale in the U.S. market.
Altria Group expects U.S. smokeless cigarette sales to grow at least 35% by 2028 from 800 million units in 2022.
