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PM

Philip Morris

$97.22

-0.56 (-0.57%)

07:50
10/03/16
10/03
07:50
10/03/16
07:50

Wells says Philip Morris investor day highlighted 'huge transformation' underway

After attending Philip Morris International's investor day meeting, Wells Fargo analyst Bonnie Herzog said the event presented a compelling case as to why the company is well positioned to continue to lead in combustible cigarettes, while its "scientific prowess and marketing intelligence" gives it a distinct and lasting advantage in smokeless cigarettes as well. The analyst raised her estimates following the event. reiterated her Outperform rating and said Philip Morris remains her top, long-term tobacco pick.

PM Philip Morris
$97.22

-0.56 (-0.57%)

09/13/16
SBSH
09/13/16
INITIATION
Target $72
SBSH
Buy
Altria Group initiated with a Buy at Citi
Citi analyst Adam Spielman started Altria Group (MO) with a Buy rating and $72 price target. The analyst expects domestic demand for cigarettes is "likely to remain robust. Spielman prefers shares of Altria and Reynolds American (RAI) to Philip Morris (PM). He initiated this morning Reynolds with a Buy rating and Philip Morris with a Neutral.
09/13/16
09/13/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Chevron (CVX) initiated with an Outperform at BMO Capital. 2. AB InBev (BUD) initiated with a Buy at Jefferies. 3. Altria Group (MO) and Reynolds American (RAI) were initiated with a Buy at Citi while the firm initiated Philip Morris (PM) with a Neutral. 4. Under Armour (UA) initiated with a Neutral at Nomura. 5. Xerox (XRX) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/16
MSCO
09/20/16
NO CHANGE
Target $110
MSCO
Overweight
Philip Morris recommended ahead of investor day at Morgan Stanley
Morgan Stanley analyst Matthew Grainger reiterated his Overweight rating and $110 price target on Philip Morris ahead of its investor day. He expects management to highlight a sustainable reacceleration in core cigarette growth and believes Philip Morris can deliver 4%+ organic sales growth, solid cost controls, and 6-8% EBIT growth.
09/22/16
WELS
09/22/16
NO CHANGE
WELS
Philip Morris should be bought ahead of Investor Day, says Wells Fargo
Wells Fargo says that Philip Morris' upcoming Investor Day could be a positive catalyst for the stock. The firm says that the company could raise its guidance, since its foreign exchange headwinds have eased. The firm adds that the company could reinstate its share buyback program "sooner rather than later," and it continues to view the company as the best tobacco name. It keeps a $114-$116 price target and Outperform rating.

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