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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 06:11 EDT
Cowen analyst Vivien Azer upgraded Philip Morris International o Outperform from Market Perform with a price target of $102, up from $90. The company has generated accelerating user growth and better geographic diversity, and with new markets approaching inflection points the stock's risk/reward is attractive, Azer tells investors in a research note. Following a "strong" iQOS performance in 2019, the analyst is more optimistic for "step-function" volume gains. She increased her fiscal 2021 iQOS volume estimates from 93.6B to 112.6B, which is above Philip Morris' guidance of 90B-100B units that it has maintained for the past two years. What makes the iQOS opportunity even more compelling is its attractive unit economics and profit potential, says Azer.
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.