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PM

Philip Morris

$79.51

-0.74 (-0.92%)

06:00
08/29/18
08/29
06:00
08/29/18
06:00

India's health ministry calls for stopping sales of e-cigarettes, Reuters says

India's federal health ministry has called for halting the sale or import of electronic cigarettes and heat-not-burn tobacco devices that companies like Philip Morris International were expecting to launch in the country, Reuters reports, citing an advisory by the ministry. The agency said such devices were a "great health risk" and it was possible that children and non-smokers using such products could switch to cigarettes once they get addicted to nicotine. Reference Link

PM Philip Morris
$79.51

-0.74 (-0.92%)

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).
08/24/18
JEFF
08/24/18
DOWNGRADE
Target $80
JEFF
Hold
Philip Morris downgraded to Hold from Buy at Jefferies
Jefferies analyst Owen Bennett downgraded Philip Morris to Hold and lowered his price target for the shares to $80 from $93.
08/24/18
JEFF
08/24/18
DOWNGRADE
JEFF
Hold
Jefferies downgrades Philip Morris, Altria Group to Hold from Buy
Jefferies analyst Owen Bennett downgraded both Philip Morris (PM) and Altria Group (MO) to Hold from Buy. The analyst lowered his lowered his price target on the former to $80 from $93 and on the latter to $61 from $70. For Philip Morris, the analyst sees significant share loss in Japan heated in the second half of 2018 and believes its longer-term total tobacco volumes will pressured due to greater skew to vapor. For Altria Group, Bennett believes market share pressures should pick up again the second half of 2018. Further, he sees the company at a disadvantage in vapor due to available formats and believes concerns around the delay of an IQOS approval will likely weigh on the shares. The analyst reiterates a Buy rating on shares of British American Tobacco (BTI).
08/24/18
08/24/18
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. L Brands (LB) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Kimberly Greenberger saying the Victoria's Secret turnaround is taking longer than anticipated and she now sees greater risk to 2019 estimates. 2. Hormel Foods (HRL) downgraded to Equal Weight from Overweight at Barclays with analyst Benjamin Theurer saying he is taking a more neutral view on the shares citing the supply/demand imbalance in the pork business, uncertainty in the international segment from trade tariffs, and the "sluggish performance" of its other businesses. 3. Cummins (CMI) downgraded to Underweight from Neutral at JPMorgan with analyst Ann Duignan saying with demand for trucks in China slowing, and lingering investor concerns over a peaking truck cycle in North America, she sees downside risks for the shares. 4. Secureworks (SCWX) downgraded to Sell from Neutral at UBS WITH analyst Fatima Boolani citing valuation. 5. Altria Group (MO) and Philip Morris (PM) were downgraded to Hold from Buy at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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