Goldman Sachs Raises Target on Philip Morris (PM) to $82 Ahead of Results, Maintains Hold

Goldman Sachs boosted is price target on Philip Morris (NYSE: PM) from $80 to $82 ahead of Q4 results on Thursday, February 9, but is keeping their Neutral rating.

The firm sees 4Q11 EPS of $1.09, in line with consensus and expects an overall strong quarter on solid volumes and continued price strength. However, the firm said there will likely be few surprises as the company updated 2011 guidance in mid-November.

Goldman revised 2012 estimates higher to reflect more favorable spot rates. They now see FY12 EPS of $5.28 versus $5.10 previously.

For an analyst ratings summary and ratings history on Philip Morris click here. For more ratings news on Philip Morris click here.

Shares of Philip Morris closed at $76.62 yesterday, with a 52 week range of $57.49-$79.96.

---

Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!

You May Also Be Interested In

• Goldman Sachs Boosts Target on Williams-Sonoma (WSM) On Signs of Stabilization
• Nomura Securities Sees Trends Continuing To Be Difficult at Wet Seal, Inc. (WTSLA); Cutting FY12/13 Estimates
• UBS Maintains a 'Buy' on Express Inc. (EXPR); A Misstep, But Still A Consistent Performer

Create E-mail Alert Related Categories

Analyst Comments

Related Entities

Goldman Sachs

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter