Philip Morris (PM) volatility flat into lower guidance

Philip Morris (NYSE: PM) is recently down $1.46 to $87.05 in the premarket after lowering its 2012 EPS outlook to $5.10-5.20 from $5.20-$5.30. Citigroup Global Markets has a Neutral rating and an $88 price target on the company. Overall option implied volatility of 17 is near its 26-week average according to Track Data.

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