Deutsche Bank analyst Damian McNeela raised the firm’s price target on Philip Morris (PM) to $142 from $135 and keeps a Buy rating on the shares. Better-than-expected Q3 performance was broad based across regions and categories, reflecting a re-acceleration in IQOS adjusted in-market sales growth, strong ZYN volumes and resilient combustible performance, the analyst tells investors in a post-earnings note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PM:
Questions or Comments about the article? Write to editor@tipranks.com