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Fly News Breaks for January 7, 2020
Jan 7, 2020 | 06:08 EDT
Piper Sandler analyst Michael Lavery raised his price target for Philip Morris International to $114 from $105 and keeps an Overweight rating on the shares. The analyst considers Philip Morris' core cigarette earnings growth and incremental earnings from its iQOS reduced risk platform to be attractive. The company looks well positioned in Europe in 2020, as iQOS is not included in the menthol cigarette ban starting in May, so menthol smokers could be likely to switch to menthol HeatSticks, contends the analyst. Additionally, iQOS has favorable taxes versus cigarettes that drive gross margin accretion, adds the analyst. Lavery raised his 2020 earnings per share estimate from $5.67 to $5.74 and 2021 estimate from $6.11 to $6.18 on currency.
News For PM From the Last 2 Days
Apr 20, 2021 | 11:17 EDT
Shares of Philip Morris (PM) are on the rise after the company reported better-than-expected quarterly results and raised its fiscal year 2021 earnings per share guidance. The first quarter... To see the rest of the story go to See Story Here
Apr 20, 2021 | 07:03 EDT
Reports total IQOS users at quarter-end estimated at approximately 19.1M, "of which approximately 14.0M have switched to IQOS and stopped smoking".
Apr 20, 2021 | 05:45 EDT
The Biden administration considering cutting almost all nicotine from cigarettes and banning menthol would be a "severe blow" to tobacco, Citi analyst Adam Spielman tells investors in a research note. However it is not yet clear that the administration will actually bring such proposals forward, says the analyst. In theory, a rule to make cigarettes non-addictive could have a "severe impact," but a bill would unlikely be implemented for many years, notes Spielman.
Apr 19, 2021 | 14:11 EDT
Notable companies reporting before tomorrow's open, with earnings consensus, include Johnson & Johnson (JNJ), consensus $2.34... Procter & Gamble (PG), consensus $1.19... Abbott (ABT), consensus $1.27... Philip Morris (PM), consensus $1.40... Lockheed Martin (LMT), consensus $6.30... Travelers (TRV), consensus $2.37... Fifth Third Bancorp (FITB), consensus 69c... KeyCorp (KEY), consensus 48c... Omnicom (OMC), consensus $1.13.