Reported about 17 hours ago
Needham has begun coverage of Philip Morris International Inc. (NYSE:PM), giving it a Buy rating and setting a price target of $195. The firm praised the company's efforts in transitioning to a smoke-free business model and maintaining a strong market position in heated tobacco and nicotine pouches. Needham expects continued innovation and expansion into new markets to lead to significant earnings growth. Philip Morris aims for over two-thirds of its net revenue to come from smoke-free products by 2030.
Source: YAHOO