Goldman Sees Growth Catalyst for Altria Group, Inc. (MO) After FDA Approval of on! PLUS

We recently compiled a list of the 10 Best Long-Term Investments for Kids. Altria Group, Inc. stands tenth among the best long-term investments. 

TheFly reported on December 22 that Goldman Sachs analyst Bonnie Herzog highlighted a key positive catalyst for MO following regulatory progress in its modern oral nicotine portfolio. The FDA granted marketing authorization on December 21, 2025, for six on! PLUS nicotine pouch products manufactured by MO’s subsidiary, Helix Innovations LLC.

This approval, the first under the FDA’s new pilot program for expedited Premarket Tobacco Product Applications (PMTAs), supports Altria Group, Inc. (NYSE:MO)’s “Moving Beyond Smoking” strategy by offering a differentiated, “soft-bodied” pouch experience in multiple flavors and strengths (6mg and 9mg), enhancing its competitiveness against dominant rivals like ZYN.

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Herzog noted that this regulatory milestone could serve as a meaningful growth driver, positioning the corporation to expand its high-margin oral nicotine portfolio. The approval aligns with the company’s broader operational pivot toward reduced-risk products while maintaining traditional revenue streams.

In contrast, BofA Securities analyst Lisa Lewandowski maintained a Buy rating on MO but lowered the price target to $64 from $66 on December 19, citing evolving consumer trends and pressure from the illicit e-vapor market.

Altria Group, Inc. (NYSE:MO) is a major American tobacco and nicotine products company headquartered in Richmond, Virginia. It is one of the largest producers and marketers of smokeable and oral tobacco products in the United States, selling iconic brands such as Marlboro cigarettes, Black & Mild cigars, and smokeless products like Copenhagen and Skoal.

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