Philip Morris International Announces Non-Executive Board Chairman Louis Camilleri to Assume CEO Role at Ferrari S.p.A.

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Go back to Philip Morris International Announces Non-Executive Board Chairman Louis Camilleri to Assume CEO Role at Ferrari S.p.A.

Philip Morris (PM) PT Lowered to $85 at Berenberg Following 2Q Earnings Report

July 23, 2018 7:07 AM EDT

Berenberg lowered its price target on Philip Morris (NYSE: PM) to $85.00 (from $100.00) while maintaining a Hold rating following the company's 2Q earnings report. Adjusted EPS rose by 24% to $1.41 (consensus: $1.23). The main drivers to the earnings growth were volumes (+1%), price/mix (+7%), operational leverage (+1%), currency (+3%),... More