Altria Takes Prices Up $0.06 Across Its Cigarette Portfolio

Following information received thru correspondence provided by UBS Senior Tobacco Analyst  Nik Modi.

Tonight, Altria announced to the trade it will be raising prices by $0.06/pack on its entire cigarette portfolio—effective Monday (June 18th). We expect Lorillard and Reynolds will follow Altria’s move in the near future. We believe the timing of the price increase will leave ample time for wholesalers to work down inventory by the end of 2Q12 (as many of them loaded up over the past few weeks in anticipation of an increase).


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