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PM

Philip Morris

$82.35

0.49 (0.60%)

10:40
08/14/18
08/14
10:40
08/14/18
10:40

Second day of active trading in Phillip Morris calls as shares tick higher

Second day of active trading in Phillip Morris calls as shares tick higher. The stock up 60c to $82.45 and Oct 85s trade across the exchanges from $1.61 to 1.68. More than 4K changed hands. Sep 82.5 and Oct 80 calls also attracting buyers. Total volume is 6.2K calls and 300 puts. Meanwhile, open interest in Oct 85 calls increased by nearly 20K after a day of active call writing Monday, including an 8.7K lot at 78c, untied. Call buyers, not writers, seem to be dominating the flow in PM options today, however.

PM Philip Morris
$82.35

0.49 (0.60%)

07/23/18
07/23/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Papa John's (PZZA) downgraded to Sell from Hold at Stifel with analyst Chris O'Cull saying the outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture." 2. Buckeye Partners (BPL) downgraded to Sell from Hold at SunTrust with analyst Tristan Richardson saying the latest negative action by Moody's was "quicker than expected" and may lead to a cut in the company's distribution. 3. Walgreens Boots Alliance (WBA) downgraded to Market Perform from Outperform at Cowen with analyst Charles Ryhee saying he views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. 4. General Electric (GE) downgraded to Hold from Buy at Argus with analyst John Eade saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. 5. Philip Morris (PM) downgraded to Hold from Buy at Societe Generale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/18
ARGS
07/25/18
UPGRADE
ARGS
Buy
Philip Morris upgraded to Buy from Hold at Argus
07/25/18
ARGS
07/25/18
UPGRADE
Target $91
ARGS
Buy
Philip Morris upgraded to Buy at Argus on strong business trends
As reported earlier, Argus analyst David Coleman upgraded Philip Morris to Buy from Hold with a price target of $91. The analyst says the company's core businesses remain strong, while its brands are expected to generate "premium prices". Coleman also cites the efforts by Philip Morris to develop cigarette alternatives with reduced risk such as heated tobacco units, which is promising amid the increasing health awareness and regulation environment. The analyst also believes that the stock is attractively valued based on its historical P/E, and price-cash flow multiples.
08/01/18
MSCO
08/01/18
NO CHANGE
MSCO
Deep discount cigarette share gains add to pricing worries, says Morgan Stanley
Morgan Stanley analyst Pamela Kaufman said the "deep discount" cigarette segment has gained U.S. market share in four out of the last five quarters. Smokers are trading down despite the healthy consumer environment and despite Altria Group's (MO) stepped up spending, noted Kaufman, who added that widening Marlboro price gaps could pressure net pricing realization. The last time Marlboro consistently lost market share in 2011, Altria responded with meaningfully less pricing growth, noted Kaufman. She has an Equal Weight rating and $63 price target on Altria and an Overweight rating and $102 price target on Philip Morris (PM).

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