Altria Group Inc. (MO) plans to raise prices on Marlboro and several other cigarette brands by 71 cents a pack, in a move expected to help the cigarette maker's profits.

Citigroup analysts described the move as "extremely bullish for the domestic tobacco industry."

As the tobacco industry's dominant player, Altria has "lifted prices by more than, and sooner than, expected," the Citi analysts noted.

Altria, however, plans to cut prices for Copenhagen and Skoal the smokeless tobacco brands it acquired through its purchase of UST Inc. by 62 cents per tin. Altria's pricing moves are being closely watched partly because cuts in its smokeless tobacco prices would mean greater competition for Reynolds American Inc.'s (RAI) brands.

The tobacco maker's moves to hike prices on cigarettes should support much stronger first-quarter profits and a generally stronger profit growth profile for its cigarette business, noted Stifel Nicolaus analyst Chris Growe.

-By Anjali Cordeiro, Dow Jones Newswires; 201-938-2408; anjali.cordeiro@dowjones.com