Philip Morris International (NYSE:PM) Given New $220.00 Price Target at Argus

Key Points

• Argus raised Philip Morris International’s price target from $210 to $220 and maintained a “buy” rating, implying 9.32% upside from the prior close.
• Analyst sentiment remains favorable: 10 analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and average price target of $209.70.
• Philip Morris exceeded quarterly expectations, reporting $2.36 in EPS and $11.44 billion in revenue, with revenue up 5.5% year over year.

Philip Morris International (NYSE:PM - Get Free Report) had its price target hoisted by equities researchers at Argus from $210.00 to $220.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. Argus's price objective indicates a potential upside of 9.32% from the company's previous close.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lifted their target price on 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 raised their price target on Philip Morris International from $193.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday. Citigroup boosted their price target on Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC increased their price objective on Philip Morris International from $215.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. Finally, BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a "buy" rating in a research note on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $209.70.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $201.24 on Monday. The business's 50 day simple moving average is $192.43 and its 200 day simple moving average is $184.05. Philip Morris International has a 52-week low of $142.11 and a 52-week high of $210.45. The firm has a market cap of $313.65 billion, a PE ratio of 29.25, a P/E/G ratio of 2.61 and a beta of 0.34.

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

Institutional Investors Weigh In On Philip Morris International

A number of hedge funds have recently made changes to their positions in PM. Caitong International Asset Management Co. Ltd acquired a new stake in Philip Morris International in the second quarter valued at $29,000. Cedar Mountain Advisors LLC raised its position in shares of Philip Morris International by 60.2% during the first quarter. Cedar Mountain Advisors LLC now owns 189 shares of the company's stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Wilkerson Advisory Group LLC raised its position in shares of Philip Morris International by 109.2% during the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company's stock worth $34,000 after acquiring an additional 107 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International in the second quarter worth approximately $34,000. Finally, Kilter Group LLC acquired a new position in shares of Philip Morris International in the second quarter worth approximately $35,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Company Profile

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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