** Tobacco company Altria MO.N on Thursday beat first-quarter sales estimates, driven by higher pricing and rising demand for alternatives to conventional tobacco products
** At least seven brokerages reiterated their PT on Altria's stock after results, with median PT of $45
SIGNIFICANT PRICE HIKES TO WEIGH ON VOLUMES
** J.P. Morgan says Altria's e-vapor business NJOY continues to gain share and expand distribution footprint while there's elevated competition for its London-listed rival British American Tobacco BATS.L in U.S.
** Stifel ("buy", PT: $50) MO's dominant market share positions in cigarette and smokeless tobacco products
** Says company's aggressive price hikes have bolstered its profit outlook
** Jefferies ("buy", PT: $42.92) says pressure on volumes of traditional cigarettes remains along with widening gap between deep discounts and price
(Reporting by Anuja Bharat Mistry in Bengaluru)