Philip Morris International (NYSE:PM) Given New $200.00 Price Target at Citigroup

Philip Morris International (NYSE:PM - Get Free Report) had its target price lifted by research analysts at Citigroup from $188.00 to $200.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 11.28% from the company's previous close.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Barclays boosted their target price on shares of Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $185.73.

Philip Morris International Stock Performance

Shares of PM stock traded down $1.26 during midday trading on Thursday, reaching $179.73. 3,430,602 shares of the company were exchanged, compared to its average volume of 5,634,992. Philip Morris International has a 12 month low of $104.84 and a 12 month high of $186.69. The company has a market cap of $279.75 billion, a P/E ratio of 37.06, a PEG ratio of 2.63 and a beta of 0.51. The company's 50 day moving average price is $178.05 and its two-hundred day moving average price is $156.52.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the firm earned $1.50 EPS. Philip Morris International's revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International will post 7.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PM. Brighton Jones LLC lifted its stake in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Philip Morris International by 60.4% in the fourth quarter. Proficio Capital Partners LLC now owns 3,863 shares of the company's stock valued at $465,000 after acquiring an additional 1,455 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Philip Morris International by 22.6% in the fourth quarter. Citizens Financial Group Inc. RI now owns 15,592 shares of the company's stock valued at $1,877,000 after acquiring an additional 2,870 shares during the last quarter. Finally, Inspire Advisors LLC acquired a new stake in Philip Morris International in the fourth quarter valued at approximately $257,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Company Profile

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.