Societe Generale upgraded Philip Morris to Hold from Sell with an $87.50 price target. The company’s organic sales growth remains strong and underlying margins are expected to improve in fiscal 2024, the analyst tells investors in a research note. Following the underperformance of the shares, the firm upgraded Philip Morris to Hold on valuation. Societe Generale says thee company is the market leader in some of the fastest-growing segments of the tobacco and nicotine market.
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