TipRanksStock Market NewsPM NewsPhilip Morris (PM) Gets a Buy Rating from Stifel Nicolaus

Philip Morris (PM) Gets a Buy Rating from Stifel Nicolaus

In a report issued on April 23, Christopher Growe from Stifel Nicolaus maintained a Buy rating on Philip Morris (PMResearch Report), with a price target of $115.00. The company’s shares closed last Monday at $102.53.

According to TipRanks.com, Growe is a 4-star analyst with an average return of 8.0% and a 67.6% success rate. Growe covers the Consumer Goods sector, focusing on stocks such as McCormick & Company, General Mills, and Post Holdings.

Currently, the analyst consensus on Philip Morris is a Moderate Buy with an average price target of $112.33, implying a 10.2% upside from current levels. In a report issued on April 24, Bank of America Securities also maintained a Buy rating on the stock with a $117.00 price target.

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Based on Philip Morris’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.75 billion and net profit of $2.33 billion. In comparison, last year the company earned revenue of $7.59 billion and had a net profit of $2.42 billion.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Incorporated in 1847, the New York-based Philip Morris International, Inc. is a leading tobacco company that manufactures and sells cigarettes, tobacco, nicotine-containing products, smoke-free products and related electronic devices and accessories in over 180 countries. The company’s most popular and best selling brand is Marlboro.

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