Stifel Reiterates Buy Rating on Philip Morris (PM)

Stifel analyst Matthew Smith reiterated a Buy rating and $186.00 price target on Philip Morris (NYSE: PM).

The analyst comments "Philip Morris International reported a strong second quarter featuring over 18% EPS growth and nearly 15% operating profit growth on a constant currency basis with nearly 7% organic sales growth including over 1% volume growth. EPS of $1.91 was $0.08 ahead of our estimate despite FX being $0.04 less of a tailwind compared to the company’s guidance and our estimate. PMI raised its 2025 profit and EPS growth outlook and now expects EPS growth of 12.5% at the mid-point on a constant currency basis, up 1ppt. from its previous guidance. We reiterate our Buy rating and find the pullback in the shares as an opportunity with upcoming catalysts including the introduction of IQOS ILUMA in the U.S. following FDA authorization, acceleration in ZYN consumption benefiting from improved supply and a resumption in demand generative investments, and the continued improvement in the balance sheet tracking towards 2x leverage.."

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 $165.27 yesterday.

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