The FDA on Thursday authorized the marketing of 20 ZYN nicotine pouches, including flavors, which UBS tells investors is a “slight positive” for Philip Morris (PM), as the company is the first to receive approval for nicotine pouches and can continue to sell flavors. The firm, which has a Sell rating and $105 price target on the shares, says U.S. ZYN is 7% of fiscal 2024 EBIT.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PM:
- FDA authorizes marketing of 20 Zyn nicotine pouch products
- Netflix upgraded, AMD downgraded: Wall Street’s top analyst calls
- Philip Morris initiated with an Overweight at Morgan Stanley
- FDA proposes plan to make cigarettes ‘nonaddictive’ by limiting tobacco
- Philip Morris price target lowered to $145 from $155 at Barclays