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Fly News Breaks for July 20, 2018
PM
Jul 20, 2018 | 07:19 EDT
While the Q2 results were "disappointing," Philip Morris' guidance on iQos now looks conservative and the cigarette business looks stronger, Citi analyst Adam Spielman tells investors in a research note. He lowered his price target for the shares to $90 from $100 and keeps a Buy rating on Philip Morris. He forecasts 2019 organic sales growth of 6% and organic EBIT growth of 9%. The analyst believes the stock looks attractive at current levels.
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