UBS analyst Andrei Condrea upgraded Philip Morris to Buy from Neutral with a price target of $116, up from $106. Following the company’s fiscal 2022 results and CAGNY presentation, the analyst turned more positive. The firm says pressure in the first six months is "setting up a strong path to growth" from the second half of 2023 onward.
Published first on TheFly
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- Philip Morris call volume above normal and directionally bullish
- Philip Morris on an Upswing after Q4 Results Beat Estimates
- Philip Morris sees FY23 adjusted EPS, ex-currency $6.40-$6.52, consensus $5.90
- Philip Morris sees FY23 currency-neutral adjusted EPS growth of 7%-9%
- Philip Morris reports Q4 adjusted EPS ex-RU/UA $1.23, consensus $1.24
