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Don't Buy Altria's Dip Following FDA Regulation Change, RBC Says

Altria Group Inc (MO) stock fell over 9% Friday following the FDA's decision to lower allowed levels of nicotine in cigarettes, but the dip in price isn't a buying opportunity, RBC analyst Nik Modi said, according to MarketWatch.

The FDA announced Friday plans to reduce the amount of nicotine in tobacco products in order to curb the number of tobacco-related deaths and illnesses in the U.S. Tobacco stocks were hit hard following the news, with Altria leading the plunge downward.

Modi upgraded Altria to...


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