Philip Morris: 5% Yield Is Now Too Expensive (Rating Downgrade)
PMPMI(PM) Seeking Alpha·2024-07-30 12:50
bleexShares of Philip Morris International (NYSE:PM) reached a new 1-year high after the tobacco company beat second-quarter earnings estimates last week, chiefly because the tobacco firm makes continual gains in the smoke-free product segment. Philip Morris is seeing strong growth for its heated tobacco and electronic cigarette products and the company reported gross margin gains in Q2. Since Philip Morris is a deeply profitable tobacco franchise and is seeing positive growth momentum, the firm raised  ...