Jefferies Starts Philip Morris (PM) at Buy

Jefferies analyst Andrei Andon-Ionita initiates coverage on Philip Morris (NYSE: PM) with a Buy rating and a price target of $220.00.

The analyst comments: "We initiate on Philip Morris with a BUY and PT of $220. We believe the company will continue to lead growth in Heated Tobacco and Oral Nicotine Pouches, which is likely to drive sustainable +HSD EBIT expansion med term. While PMI is trading at a premium to Tobacco, the shares do not look expensive versus Food & HPC blue chips and offer superior top- and bottom-line growth and elevated shareholder cash returns."

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 $177.72 yesterday.

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