Bonnie Herzog, an analyst from Goldman Sachs, reiterated the Buy rating on Philip Morris (PM – Research Report). The associated price target is $165.00.
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Bonnie Herzog has given his Buy rating due to a combination of factors that highlight Philip Morris’s promising future. The company’s leadership has demonstrated strong confidence in its ability to achieve sustainable growth and deliver shareholder returns, as evidenced by its commitment to a substantial smoke-free transformation. This transition is supported by a robust multi-category strategy that aims to capture a larger share of the growing global nicotine market.
Furthermore, Philip Morris’s smoke-free products, including the innovative iQOS and ZYN, are showing significant market traction and profitability, with iQOS poised to outperform traditional cigarettes in terms of revenue and gross profit. The anticipated launch of ILUMA in the U.S. is expected to further boost the company’s performance in the world’s most profitable nicotine market. Collectively, these strategic initiatives and the company’s proactive approach to mitigating currency impacts position Philip Morris for rapid and profitable growth, justifying Herzog’s Buy rating.
Herzog covers the Consumer Defensive sector, focusing on stocks such as Altria Group, Coca-Cola, and Molson Coors. According to TipRanks, Herzog has an average return of 4.7% and a 57.00% success rate on recommended stocks.
In another report released on February 20, Morgan Stanley also maintained a Buy rating on the stock with a $156.00 price target.