Philip Morris added to US Conviction List at Goldman Sachs

Goldman Sachs analysts added Philip Morris to the firm’s US Conviction List as part of its August update. The firm has a Buy rating on the shares with a $126 price target. Goldman believes the market is underappreciating Philip Morris’ growth opportunity as the company innovates around its smoke-free alternatives to cigarettes. These alternatives are more profitable and positions the company well among peers with direct exposure to the U.S., the analysts tell investors in a research note.