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Altria Posting Notable Loss After Downgrade By Citi

Extending a recent downward trend, shares of Altria Group, Inc. (MO) are seeing notable weakness in late-day trading on Friday. After hitting its lowest intraday level in over three years, Altria is currently down by 3.5 percent.

The continued drop by Altria comes after Citi downgraded its rating on the tobacco producer's stock to Sell from Neutral.

Citi analyst Adam Spielman said Altria's $12.8 billion investment in electronic cigarette company Juul is "effectively signaling" the company is "doubtful about the future of its core business."

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