Stifel analyst Matthew Smith raised the firm’s price target on Philip Morris to $115 from $108 and keeps a Buy rating on the shares after the company reported 23% constant currency EPS growth, 11% organic revenue growth, and 370 basis points of underlying margin expansion in Q1. The quarter “provided a spotlight on the benefits of the business transformation underway” at Philip Morris, the analyst tells investors.
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Read More on PM:
- Philip Morris (NYSE:PM) Rises on Solid Q1 Results
- Philip Morris raises FY24 adjusted EPS view, excluding currency, to $6.55-$6.67
- Philip Morris reports Q1 adjusted EPS $1.50, consensus $1.41
- Notable companies reporting before tomorrow’s open
- Philip Morris price target lowered to $108 from $109 at BofA
