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PM

Philip Morris

$85.02

-16.49 (-16.24%)

13:37
04/19/18
04/19
13:37
04/19/18
13:37

Philip Morris post-earnings selloff overdone, says Wells Fargo

Wells Fargo analyst Bonnie Herzog views the post earnings selloff today in shares of Philip Morris as overdone. The weaker than expected iQOS volume in Japan has created a nice entry point for longer term investors, Herzog tells investors in a research note. Shares of Philip Morris are down 16%, or $16.26, to $85.20 in afternoon trading.

  • 19

    Apr

  • 28

    May

PM Philip Morris
$85.02

-16.49 (-16.24%)

03/23/18
PIPR
03/23/18
NO CHANGE
PIPR
Recent selloff in Tobacco space is unjustified, says Piper Jaffray
The recent selloff in the Tobacco space is unjustified and current valuations offer an "attractive buying opportunity," Piper Jaffray analyst Michael Lavery tells investors in a research note. The analyst views Philip Morris (PM) and Altria Group (MO) as "long-term winners." Tobacco companies continue to enjoy strong pricing power, barriers to entry, and a favorable position with the retail trade, the analyst contends. His analysis suggests lower risk products are beneficial to category trends, and expects lower excise taxes versus cigarettes to remain in place.
04/10/18
DBAB
04/10/18
INITIATION
Target $120
DBAB
Buy
Philip Morris initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Gerry Gallagher started Philip Morris with a Buy rating and $120 price target. The analyst models for multi-year low double-digit/high-single digit earnings growth and believes the company's fiscal 2025 "aspirations are achievable."
04/10/18
04/10/18
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. Tesla (TSLA) initiated with a Sell at Vertical Group. 2. Philip Morris (PM) initiated with a Buy at Deutsche Bank. 3. Etsy (ETSY) initiated with a Buy at Loop Capital. 4. Zscaler (ZS) initiated with an Outperform at Credit Suisse and Baird, a Strong Buy at Needham, an Equal Weight at Morgan Stanley, Stephens, and Barclays, a Hold at Deutsche Bank, as well as a Neutral at BofA/Merrill and Goldman Sachs. 5. Equifax (EFX) initiated with an Underperform at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/18
PIPR
04/19/18
NO CHANGE
Target $126
PIPR
Overweight
Philip Morris selloff looks 'excessive,' says Piper Jaffray
Piper Jaffray analyst Michael Lavery considers Philip Morris' underlying base earnings growth and incremental gains from iQOS to be attractive, though higher spending tempers incremental benefits near-term. While uncertainty about the long-term outlook for the business appears to be weighing on investor sentiment, and while management's communication around the issues does not appear to add sufficient clarity, the analyst believes the selloff in the shares appears to be "overdone." The business remains on track for high single-digit organic revenue growth and high single-digit EPS growth, which compares favorably to other names in consumer staples, he argues. Lavery reiterates an Overweight rating and $126 price target on the shares.

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