Nomura Securities Maintains a 'Reduce' on Philip Morris (PM); Q1 Preview

Nomura Securities maintains a 'Reduce' on Philip Morris (NYSE: PM).

Nomura analyst, David Hayes, said, "Preview of 1Q ahead of reporting on 4/21. We expect a reported diluted EPS of $1.10 (0.90 LY). We also expect the company to increase FY guidance again – in part on further favorable FX moves and also encouraging trends in Japan post the tax hike in October (and share gains, expected now due to the recent disaster in Japan and the unfortunate impact on competitors). We’re increasing our FY EPS est by 3% to $4.59, and we increase our px tg to $62.6 (from $58.8)."

For more ratings news on Philip Morris click here and for the rating history of Philip Morris click here.

Shares of Philip Morris closed at $65.76 yesterday.

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