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PM

Philip Morris

$112.51

-0.14 (-0.12%)

07:02
10/19/17
10/19
07:02
10/19/17
07:02

Philip Morris reports Q3 adjusted EPS $1.27, consensus $1.38

Reports Q3 revenues, excluding excise taxes, of $7.5B, consensus $7.72B. Reports cigarette and heated tobacco unit shipment volume of 208.2B, down by 0.5%. Cigarette shipment volume of 198.5B units, down by 4.1%. Heated tobacco unit shipment volume of 9.7B units, up from 2.1B units in 2016.

  • 19

    Oct

PM Philip Morris
$112.51

-0.14 (-0.12%)

10/10/17
WELS
10/10/17
NO CHANGE
Target $140
WELS
Outperform
Philip Morris recent stock pullback overdone, says Wells Fargo
Wells Fargo analyst Bonnie Herzog says that the recent Phillip Morris stock pullback is overdone, making risk/reward look more favorable. The analyst recommends buying ahead of Q3 results as she expects strong iQOS performance, resilience in key combustible cigarette markets, and the continued success of its premiumization strategy. Herzog reiterates an Outperform rating and $140 price target on the shares.
10/06/17
WELS
10/06/17
NO CHANGE
WELS
Nicotine study could pressure tobacco stocks, says Wells Fargo
Dr. Dorothy Hatsukami's 1,250 patient, 20 week Phase III study, which suggested an immediate reduction in nicotine levels by the FDA would be more effective than a gradual reduction in terms of discouraging compensatory behavior, could create near-term headline risk for tobacco stocks, Wells Fargo analyst Bonnie Herzog tells investors in an intraday research note after XXII Century Group announced the results. Investors may worry the data could precipitate sharper declines in combustible cigarette volumes, the analyst contends. She continues to believe, however, that such an outcome would only accelerate conversion to reduced-risk products such as iQOS, which she notes does not appear to have been a part of the study. Publicly traded companies in the tobacco space include Altria Group (MO), British American Tobacco (BTI) and Philip Morris (PM).
09/28/17
09/28/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Buy from Neutral at Longbow with analyst Alton Stump citing better than expected third quarter U.S. comparable store sales trends. 2. Philip Morris (PM) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Judy Hong saying the company offers a "rare innovation product cycle story within Staples" along with the strongest global positioning in next generation products. 3. BlackRock (BLK) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Alexander Blostein saying he expects an acceleration in annual operating income growth given improving trends in active, easing pressures on blended fee rates, and scaling of its tech platform which should lead to sustainable multiple improvement. 4. Potbelly (PBPB) upgraded to Overweight from Neutral at Piper Jaffray with analyst Nicole Miller Regan saying she believes a "compelling" turnaround is building. 5. Huntsman (HUN) upgraded to Outperform from Market Perform at Wells Fargo with analyst Frank Mitsch saying the recent weakness in the shares is a buying opportunity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/17
GSCO
09/28/17
UPGRADE
Target $135
GSCO
Conviction Buy
Philip Morris upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Philip Morris (PM) to Conviction Buy and reiterates the stock as her top pick in within tobacco. The company offers a "rare innovation product cycle story within Staples" along with the strongest global positioning in next generation products, Hong tells investors in a research note where she also upgraded Brown-Forman (BF.B) to Neutral. The analyst views Philip Morris' IQOS as a "game-changer for Global Tobacco." She raised her price target for the shares to $135 from $133. Hong also highlights Mondelez (MDLZ), Estee Lauder (EL) and Kimberly-Clark (KMB) as top multinational picks.

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