Barclays Maintains an 'Overweight' on Philip Morris (PM), But Cuts Estimates Again on Foreign Currency Issues
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Price: $190.39 +0.78%
Rating Summary:
17 Buy, 11 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
17 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Overweight' on Philip Morris (NYSE: PM) price target of $97.00.
Analyst, Michael J. Branca, said, "We are adjusting our EPS forecasts, not surprisingly, to account for the recent U.S. dollar appreciation against a basket of PM's key foreign currencies. Since management updated guidance in mid-April, most currencies have materially weakened against the dollar, likely resulting in additional adverse translation and transaction impact for PM through the remainder of 2012."
FY12 EPS estimate cut from $5.40 to $5.20 and FY13 from $6.05 to $5.85.
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 $82.79 yesterday.
Analyst, Michael J. Branca, said, "We are adjusting our EPS forecasts, not surprisingly, to account for the recent U.S. dollar appreciation against a basket of PM's key foreign currencies. Since management updated guidance in mid-April, most currencies have materially weakened against the dollar, likely resulting in additional adverse translation and transaction impact for PM through the remainder of 2012."
FY12 EPS estimate cut from $5.40 to $5.20 and FY13 from $6.05 to $5.85.
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 $82.79 yesterday.
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