Cowen analyst Vivien Azer upgraded Philip Morris International o Outperform from Market Perform with a price target of $102, up from $90. The company has generated accelerating user growth and better geographic diversity, and with new markets approaching inflection points the stock's risk/reward is attractive, Azer tells investors in a research note. Following a "strong" iQOS performance in 2019, the analyst is more optimistic for "step-function" volume gains. She increased her fiscal 2021 iQOS volume estimates from 93.6B to 112.6B, which is above Philip Morris' guidance of 90B-100B units that it has maintained for the past two years. What makes the iQOS opportunity even more compelling is its attractive unit economics and profit potential, says Azer.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Reports Q1 revenue $8.8B, consensus $8.47B. "The strength of our first-quarter results with excellent top-line growth and significant margin expansion gives us the confidence to raise our 2024 currency-neutral guidance. Strong smoke-free momentum continues with rapid underlying volume progression and accelerating organic net revenue and gross profit growth, fueled by the operating leverage of IQOS and the best-in-class economics of ZYN. We are executing efficiently and effectively in a dynamic operating environment of geopolitical and economic tensions that accentuate currency volatility. We are doing our utmost to mitigate these challenges and deliver robust growth and value creation," said Jacek Olczak, Chief Executive Officer.