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The market is overlooking the long-term stability of Big Tobacco's cash flow generation and strong returns on invested capital.
Jump to full article: Morningstar, 2009-06-24
Author: Philip Gorham, CFA
Intro: We believe there is now a compelling case for buying Altria (MO), which we think has the most to gain from regulation under the Food and Drug Administration, and Philip Morris International (PM), whose strong product portfolio and pricing power should position it well for long-term growth.
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