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Berger: Tobacco giant could seek higher returns from Marijuana
Serge Berger is looking at trading stock in Altria Group, the parent company of Philip Morris USA. The company has already been developing its own brand of e-cigarettes and rumour has it that the firm is looking at a new and significant development as some states pass laws legalising Marijuana.
Some analysts and investors believe Altria could buy some of the small marijuana companies and Serge expects the stock to be boosted by the 'chatter'.
The stock is also trading well technically with the development of a tight formation over the last couple of weeks.
Serge suggests buying at $40.25, with a target of $42.00 and a stop at $39.50.
01:26 minutes
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