Adam Spielman

Citi upgraded Altria Group Inc. (NYSE: MO) as part of a more bullish general outlook on tobacco companies, but dropped its rating on Philip Morris International Inc. (NYSE: PM). The stocks moved in accordance, with Altria shares up and Philip Morris stock dropping. The Analyst Citi’s Adam...

British American Tobacco PLC (ADR) (NYSE: BTI) picked an ideal time back in October to acquire the remaining stake in Reynolds American, Inc. (NYSE: RAI) it already didn't own. The only problem is Reynolds rejected the offer on Monday. Reynolds stock lost close to 1 percent on Monday but was...

After a 2012 attempt went up in smoke, California finally got around to vote for a measure that could curb smoking and tobacco consumption. Voters in the state supported a $2 tax on each pack of cigarettes, other tobacco products and e-cigarettes. This would bring up the taxes on a pack of...

Reynolds American, Inc. (NYSE: RAI) shares dropped more than 3 percent following the company’s Q3 earnings report. However, Citi analyst Adam Spielman believes Reynolds’ underlying business is actually performing really well and sees the earnings sell-off as a buying opportunity....

The decline in U.S. cigarette volumes is likely to be slower than current consensus expectations, with decelerating e-vapor volumes helping conventional cigarettes, Citi’s Adam Spielman said in a report. He added that the tax and regulatory environment is significantly “less...

U.S. demand for cigarettes is currently the strongest it has been for decades, and is likely to remain robust, Citi’s Adam Spielman said in a report. He added that Treasury yields are expected to remain low compared to the 4 percent dividend yields on tobacco stocks. Moreover, EPS growth is...

In a report published Monday, Citi analyst Adam Spielman discussed the effect on staples stocks as China's actual growth rate is "much lower" than the 7 percent the country reported in the first half of 2015. According to Spielman, China's growth in the first half of 2015 was...