Redburn Atlantic analyst Jacob de Klerk initiated coverage of Philip Morris with a Neutral rating and $95 price target. Philip Morris is leading the transformation towards a smoke-free world and has a well-diversified global cigarette network, excluding the U.S. and China, upon which it is building substantial sales of the IQOS brand, the analyst tells investors in a research note. The stock’s premium to the tobacco peers is justified, but there is risk of the company “falling short of ambitious targets.”
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PM:
- What’s Next for Tobacco Giants As the U.K. Moves Towards a Smoke-Free Generation
- British American Tobacco Stock (NYSE:BTI): Ridiculously Cheap, Yielding 9.7%
- CGDG: This New Dividend Growth ETF Looks Promising
- Philip Morris management to meet with Oppenheimer
- Philip Morris (NYSE:PM) Stock Remains Enticing after Strong Q3 Earnings
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue