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Philip Morris International, Inc. Message Board

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  • lincolnparker60614 lincolnparker60614 Sep 16, 2010 10:37 PM Flag

    When does PM become overvalued?

    Goldman Sachs has a price target as of 6/30/2010 of $57 on PM. I think that is a very reasonable price target and we will get there way sooner than 1-year down the road, possibly by the end of this year. The $57 is down from $62 due to concerns over European sales and earnings. I think the price targets will be going back up now that Europe is off the critical list.

    I like PM which is subject to US accounting rules but is ~100% international in sales. I also like the market and think the downside risk in the market is reasonable. Not zero but not more than 10% either.

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