There was a time when Altria Group (NYSE: MO) -- back when it was still called Philip Morris -- was a powerhouse of a company. Although the tobacco giant has faced predictable problems linked to the health risks of smoking since the 90s, it's still managed to grow its top and bottom lines between then and now.

The past few years, however, have been measurably different for Altria and its peers. The entire tobacco business is at a tipping point thanks to ongoing smoking-cessation campaigns. For the second year in a row, Altria's 2023 revenue fell from the prior year's levels, as did the total number of cigarettes it sold. This year's results aren't expected to be meaningfully better, either. It's not too tough for investors to find companies with better growth prospects.

Yet, there's still a narrowly focused case to be made for stepping into Altria stock at this time.

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Source Fool.com