We don't expect to make any significant changes to our fair value estimate for Altria MO following the release of fourth-quarter and full-year results by the firm. While the company's core tobacco franchises, Philip Morris USA and Philip Morris International, performed well in 2006, Altria's ...
Despite falling cigarette demand, the tobacco titan should continue to deliver cash flow and dividend growth.
Our top managers continue to focus on higher-quality businesses, with dividend-paying stocks like Philip Morris International rising to the forefront during the most recent period.
Large growth fared best, while funds with heavy energy stakes collapsed.
Modest pockets of value emerge among consumer defensive companies.