Goldman Sachs Upgrades Philip Morris International to Buy with Price Target $114.00

Brokerage firm Goldman Sachs Upgrades its rating on Philip Morris International(NYSE:PM). In a research note issued to the investors, the brokerage major Raises the price-target to $114.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Sep 12, 2016.

In a different note, On Jul 20, 2016, SBG Securities said it Upgrades its rating on Philip Morris International. The shares have been rated ‘Hold’ by the firm. On Jun 17, 2016, JP Morgan said it Upgrades its rating on Philip Morris International. The shares have been rated ‘Overweight’ by the firm.

Philip Morris International (PM) made into the market gainers list on Tuesdays trading session with the shares advancing 0.39% or 0.39 points. Due to strong positive momentum, the stock ended at $99.21, which is also near the day’s high of $99.96. The stock began the session at $99.2 and the volume stood at 27,59,439 shares. The 52-week high of the shares is $104.2 and the 52 week low is $78.031. The company has a current market capitalization of $153,907 M and it has 1,55,13,27,000 shares in outstanding.

Philip Morris International(PM) last announced its earnings results on Jul 19, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.65B. Analysts had an estimated revenue of $6.79B. Earnings per share were $1.15. Analysts had estimated an EPS of $1.20.

Several Insider Transactions has been reported to the SEC. On Apr 28, 2016, Marc S Firestone (Sr. VP & General Counsel) sold 18,000 shares at $97.06 per share price.Also, On Feb 19, 2016, Andre Calantzopoulos (Chief Executive Officer) sold 30,000 shares at $91.11 per share price.

Philip Morris International Inc. is a holding company engaged in the manufacture and sale of cigarettes other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in more than 180 markets which include a range of international and local premium mid-price and low-price brands. Its premium price brands include Marlboro Merit Parliament and Virginia Slims; mid-price brands are L&M and Chesterfield and international brands include Bond Street Lark Muratti Next Philip Morris and Red & White. Its local cigarette brands consist of Sampoerna Dji Sam Soe and U Mild in Indonesia; Fortune Champion and Hope in the Philippines; Diana in Italy; Optima and Apollo-Soyuz in Russia; Morven Gold in Pakistan; Boston in Colombia; Belmont Canadian Classics and Number 7 in Canada; Best and Classic in Serbia; f6 in Germany; Delicados in Mexico; Assos in Greece and Petra in the Czech Republic and Slovakia.

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