Goldman Downgrades Altria Group
Goldman Sachs cut its rating on Altria Group (MO ) to in-line from outperform.
Analyst Judy Hong cited increasing concern that the timing of the tobacco group's break-up could occur much later than she earlier thought. She's still waiting for Engle, Price/Miles, and Department of Justice lawsuits to be resolved. She says that while this wait by itself isn't concerning to her, she's increasingly cautious that other cases looming on the horizon could also become tangible roadblocks to the company's break-up.