Most of the analyst's take on the conference call was generally positive, but the stock acted poorly in an up market. I would guess there won't be any upgrades or downgrades in the near future.
good thoughts everybody.
My take is that lower volumes was expected given the excise tax increases and poor economy. As the economy improves, people will trade up to PMI.
Also, if you remove the impact on currency, revenue was up. The price increases more than offset the volume decreses.
Good link here as well to support my thinking:
It's not a crap shoot.
PM is a cash machine. It is engaging in acquisitions and share buybacks. On top of that it hands out a generous dividend.
No accounting gimmickry.
This is one of the best stocks you will ever own and because it is tobacco and less investors will buy it, you will continually be able to buy PM far lower than it's true value relative to other stocks available.
I tend to agree with you. This market seems to NOT be trading that much on Fundemantals right now. But I always look at the fundaments rather that the Tech Analysts. Like I said I don't like this stock right now I'm just lowering my cost basis so I can exit without a BIG loss...It's a Crap shoot....Thanks for your input....GLTA Oh and by the way if I had a good profit in PM I would sell at the first good opportunity....GLTYa
Still a Cash Cow company with five star management. Look back to 1970 and see what purchasing $10,000 worth of the old Philip Morris (now Altira, PM Int'l and Kraft) leaves you with today.I am confident no one would be disappointed.
Global economies rise and fall, addiction always stays. The business although having its challenges is still good!
I agree with that theory. I only bought to get my cost basis down. I look at MO's RAI and PM's volumes all down. In addition the smokless volumes down also makes one wonder if people are quitting smoking altogether or just trading down to lower cost brands because of the economy. Toughts on this appreciated....GLTA