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PM

Philip Morris

$109.98

-3.93 (-3.45%)

07:42
04/21/17
04/21
07:42
04/21/17
07:42

Philip Morris shares should be bought on weakness, says Wells Fargo

Wells Fargo says that Philip Morris' lower than expected EPS and volumes were caused by its decision to exit low margin markets. The firm says that the results support the company's strategy of boosting its profitability over the longer term ,and Wells Fargo recommends buying the stock on weakness.

  • 03

    May

PM Philip Morris
$109.98

-3.93 (-3.45%)

01/17/17
WELS
01/17/17
NO CHANGE
WELS
Wells sees Reynolds American deal upping chances of Philip Morris, Altria tie-up
After Reynolds American (RAI) announced that it has reached an agreement with British American Tobacco (BTI) under which BAT will acquire the 57.8% of RAI common stock that BAT does not currently own, Wells Fargo analyst Bonnie Herzog said she sees the deal increasing the likelihood of Philip Morris (PM) acquiring Altria (MO) as scale becomes increasingly critical. Applying the deal multiple for Reynolds' deal, Herzog estimates that Altria is worth at least $76 per share in a potential takeover.
01/18/17
SBSH
01/18/17
DOWNGRADE
Target $60
SBSH
Neutral
Reynolds American downgraded to Neutral from Buy at Citi
Citi analyst Adam Spielman downgraded Reynolds American (RAI) to Neutral from Buy citing its deal to be acquired fully by British American Tobacco (BTI). He adds that he sees the proposed deal putting further pressure on Altria (MO) and Philip Morris (PM) to recombine.
02/08/17
SBSH
02/08/17
NO CHANGE
SBSH
Citi says 'fairly unlikely' Philip Morris buys Altria Group
It is "fairly unlikely," although not impossible, that Philip Morris (PM) acquires Altria Group (MO), Citi analyst Adam Spielman tells investors in a research note. The analyst points out that according to Bloomberg, there is greater speculation that Altria Group will be bid for than for any other major company. Spielman does not believe Philip Morris buying Altria would generate adequate financial returns. He notes the takeover speculation is triggered by British American Tobacco's (BAT) decision to buy Reynolds American (RAI), the number two player in U.S. tobacco.
02/17/17
WELS
02/17/17
NO CHANGE
WELS
Philip Morris likely to raise iQOS guidance, says Wells Fargo
Wells Fargo expects Philip Morris (PM) to announce on February 22 that it will file an FDA application to commercialize its iQOS smokeless cigarettes in the U.S. The firm predicts that the company will also raise its 2020 iQOS incremental profit target by $0.3B to $1.0-$1.5B. Wells sees a 70% chance of Philip Morris acquiring Altria Group (MO), and it says that such a deal could enable iQOs to obtain an additional $10B in operating income from iQOS by 2025. Wells keeps Outperform ratings on Philip Morris and Altria.

TODAY'S FREE FLY STORIES

NOV

National Oilwell

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VTR

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MU

Micron

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0.765 (2.41%)

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MAR

Marriott

$104.06

0.17 (0.16%)

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AAPL

Apple

$146.28

0.65 (0.45%)

, HTZ

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$10.92

1.38 (14.47%)

14:54
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Periodicals
Apple only leasing six cars from Hertz, CNBC says »

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Apple

$146.28

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HTZ

Hertz

$10.92

1.38 (14.47%)

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  • 26

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NG

NovaGold

$4.50

-0.075 (-1.64%)

14:49
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NovaGold options imply 6.4% move in share price post-earnings, above median historical move »

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  • 27

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AAPL

Apple

$146.28

0.65 (0.45%)

, HTZ

Hertz

$10.84

1.3002 (13.63%)

14:47
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Periodicals
Hertz to manage small self-driving car fleet for Apple, Bloomberg says »

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$146.28

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$24.24

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OTIC

Otonomy

$18.75

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14:46
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DGX

Quest Diagnostics

$110.05

0.345 (0.31%)

, WMT

Wal-Mart

$75.61

0.77 (1.03%)

14:44
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Quest Diagnostics, Wal-Mart team up to offer healthcare services »

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DGX

Quest Diagnostics

$110.05

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Wal-Mart

$75.61

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  • 30

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EBSB

Meridian Bancorp

14:43
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AMD

AMD

$14.17

-0.21 (-1.46%)

, INTC

Intel

$34.19

-0.17 (-0.49%)

14:43
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AMD, Intel analyst commentary  »

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AMD

AMD

$14.17

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INTC

Intel

$34.19

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  • 26

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KTOV

Kitov Pharmaceuticals

$1.71

-0.01 (-0.58%)

, PRXL

Parexel

$86.80

-0.31 (-0.36%)

14:41
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Kitov sees formal filing of NDA for KIT-302 by end of Q3 »

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KTOV

Kitov Pharmaceuticals

$1.71

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PRXL

Parexel

$86.80

-0.31 (-0.36%)

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  • 26

    Jun

RAD

Rite Aid

$3.93

0.8199 (26.36%)

14:40
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Heavy trading in RiteAid as shares surge »

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14:40
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Treasury Action: yields remain slightly lower »

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EVLV

EVINE Live

$1.04

-0.03 (-2.80%)

14:39
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EVINE Live management to meet with Craig-Hallum »

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EVLV

EVINE Live

$1.04

-0.03 (-2.80%)

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HTZ

Hertz

$10.19

0.65 (6.81%)

14:36
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AMAG

AMAG Pharmaceuticals

$18.35

0.15 (0.82%)

14:36
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FN

Fabrinet

$45.60

5.58 (13.94%)

14:30
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Timely call activity in Fabrinet »

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  • 26

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AAPL

Apple

$146.28

0.65 (0.45%)

, HTZ

Hertz

$10.24

0.7 (7.34%)

14:26
06/26/17
06/26
14:26
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Periodicals
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AAPL

Apple

$146.28

0.65 (0.45%)

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Hertz

$10.24

0.7 (7.34%)

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  • 26

    Jun

GM

General Motors

$34.49

0.29 (0.85%)

14:25
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  • 26

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T

AT&T

$38.15

0.2001 (0.53%)

14:20
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Options
Calendar call spread in AT&T rolls short position from July to September »

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14:19
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Averages mixed but internals strong »

The averages remain mixed…

$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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