|Day's Range||116.25 - 116.99|
|52 Week Range||86.78 - 117.59|
|PE Ratio (TTM)||25.82|
|Dividend & Yield||4.16 (3.58%)|
|1y Target Est||N/A|
Shares of Philip Morris (PM) hit a 52-week high of $116.37 yesterday, though it closed a tad lower at $116.22.
Wells Fargo Securities We believe current market conditions improve the economics and reinforce the likelihood that a Philip Morris International/Altria Group deal gets done sooner rather than later. While Philip Morris (PM) remains our top long-term stock pick with more upside potential over the long-term, Altria (MO) remains a very close number 2 since we think the market is underestimating [tobacco heating system] iQOS’s value (a $12-a-share opportunity with less than 25% currently priced in), upside potential from the Anheuser-Busch InBev stake, and the potential that Philip Morris acquires Altria. As such, we reiterate our Outperform ratings on Philip Morris and Altria and our $140 and $80 price targets on the stocks, respectively.
Find out what the global tobacco giant said to its shareholders.