Philip Morris Shares Upgraded by Davenport to “Buy” (PM)

Philip Morris (PM) was upgraded by investment analysts at Davenport from a “neutral” rating to a “buy” rating in a note issued to investors on Monday.

Philip Morris Logo

Philip Morris Tobacco Company

PM has been the subject of a number of other recent research reports. Analysts at Zacks Investment Research reiterated a “neutral” rating on shares of Philip Morris in a research note to investors on Thursday, March 8th. They now have a $88.00 price target on the stock. Separately, analysts at Nomura (NYSE: NMR) downgraded shares of Philip Morris from a “neutral” rating to a “reduce” rating in a research note to investors on Wednesday, February 22nd. Finally, analysts at Jefferies Group (NYSE: JEF) initiated coverage on shares of Philip Morris in a research note to investors on Wednesday, February 15th. They set a “hold” rating on the stock.

Philip Morris traded up 1.29% on Monday, hitting $87.9485. Philip Morris has a 52-week low of $60.45 and a 52-week high of $87.15. The stock has a 50-day moving average of $83.13 and a 200-day moving average of $74.55. The company has a market cap of $151.4 billion and a price-to-earnings ratio of 17.90.

The company last announced its quarterly results on Thursday, February 9th. It reported $1.10 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.08 EPS by $0.02. The company’s quarterly revenue was up 9.0% on a year-over-year basis. Analysts expect that Philip Morris will post $1.40 EPS next quarter.

Philip Morris International Inc. (PMI) is a holding company. PMI, through its subsidiaries and affiliates and their licensees, is engaged in the manufacture and sale of cigarettes and other tobacco products in markets outside of the United States of America.

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