Philip Morris International (NYSE:PM) Price Target Raised to $220.00

by · The Markets Daily

Philip Morris International (NYSE:PM – Get Free Report) had its price objective increased by research analysts at Argus from $210.00 to $220.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Argus‘s price objective suggests a potential upside of 9.32% from the company’s previous close.

Several other brokerages have also issued reports on PM. Barclays increased their price target on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. UBS Group upped their price objective on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Philip Morris International from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.70.

Read Our Latest Report on PM

Philip Morris International Trading Up 0.9%

Shares of Philip Morris International stock opened at $201.24 on Monday. The business has a 50-day moving average price of $192.43 and a two-hundred day moving average price of $184.05. Philip Morris International has a 1-year low of $142.11 and a 1-year high of $210.45. The company has a market cap of $313.65 billion, a P/E ratio of 29.25, a PEG ratio of 2.61 and a beta of 0.34.

Philip Morris International (NYSE:PM – Get Free Report) last released its earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 earnings per share. Equities research analysts forecast that Philip Morris International will post 8.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Philip Morris International

A number of institutional investors have recently added to or reduced their stakes in PM. Caitong International Asset Management Co. Ltd purchased a new stake in Philip Morris International in the 2nd quarter valued at about $29,000. Cedar Mountain Advisors LLC boosted its stake in shares of Philip Morris International by 60.2% in the 1st quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Wilkerson Advisory Group LLC boosted its stake in shares of Philip Morris International by 109.2% in the 1st quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International in the 2nd quarter worth approximately $34,000. Finally, Kilter Group LLC bought a new position in shares of Philip Morris International in the second quarter valued at approximately $35,000. 78.63% of the stock is owned by institutional investors.

About Philip Morris International

(Get Free Report)

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.

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