Jefferies Maintains a 'Hold' on Philip Morris (PM); Solid Earnings but Environment Still Challenging
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Price: $95.43 -0.26%
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 33 | New: 12
Rating Summary:
3 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 18 | Down: 33 | New: 12
Trade PM Now!
Jefferies maintains a 'Hold' on Philip Morris (NYSE: PM) price target of $92.00 (from $91.00).
Analyst, Thilo Wrede, said, "PM’s 2Q12 earnings were in line with our f'cast ($1.36) and showed strong underlying growth (+17.7% EPS growth ex. FX/Japan). Despite stronger FX headwinds, PM maintained its guidance. However, with Southern Europe still very challenged, several markets impacted by recent price increases and a potentially further weakening Euro, we maintain our Hold rating on PM for now."
Cutting FY12 EPS estimate from $5.15 to $5.14, but raising FY13 from $5.76 to $5.82.
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 $88.89 yesterday, with a 52 week range of $60.45-$91.39.
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Analyst, Thilo Wrede, said, "PM’s 2Q12 earnings were in line with our f'cast ($1.36) and showed strong underlying growth (+17.7% EPS growth ex. FX/Japan). Despite stronger FX headwinds, PM maintained its guidance. However, with Southern Europe still very challenged, several markets impacted by recent price increases and a potentially further weakening Euro, we maintain our Hold rating on PM for now."
Cutting FY12 EPS estimate from $5.15 to $5.14, but raising FY13 from $5.76 to $5.82.
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 $88.89 yesterday, with a 52 week range of $60.45-$91.39.
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