Philip Morris International (NYSE:PM) Price Target Raised to $200.00 at Bank of America

Philip Morris International (NYSE:PM - Free Report) had its target price boosted by Bank of America from $182.00 to $200.00 in a report released on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $130.00 to $170.00 in a report on Friday, April 25th. Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Citigroup boosted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $0.95 during mid-day trading on Wednesday, reaching $181.61. The company had a trading volume of 3,566,454 shares, compared to its average volume of 5,612,861. The firm has a market cap of $282.68 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.65 and a beta of 0.52. The business's 50-day simple moving average is $166.88 and its 200 day simple moving average is $146.75. Philip Morris International has a one year low of $98.93 and a one year high of $183.94.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the firm earned $1.50 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International will post 7.14 EPS for the current year.

Institutional Trading of Philip Morris International

Institutional investors and hedge funds have recently bought and sold shares of the company. NewSquare Capital LLC increased its holdings in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after buying an additional 72 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the 1st quarter worth $30,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock worth $32,000 after buying an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Philip Morris International in the 4th quarter worth $33,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Philip Morris International in the 1st quarter worth $34,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.