Philip Morris: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse estimates that Philip Morris International's organic sales growth in heated tobacco products (HTU) is expected to reach 6% for the financial year 2021, compared to a previous estimate of 7.
9%.
However, taking into account improved profitability and cost savings, the broker estimates that the group's EBIT margin will reach 42.5% in 2021 (up from 40.5% previously), leading to a 5.4% increase in 2021 EPS to 5.95 dollars.
The broker therefore maintains its "neutral" rating on the Philip Morris International share, while raising its target price from 78 dollars to 84 dollars (current price about 86 dollars).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
9%.
However, taking into account improved profitability and cost savings, the broker estimates that the group's EBIT margin will reach 42.5% in 2021 (up from 40.5% previously), leading to a 5.4% increase in 2021 EPS to 5.95 dollars.
The broker therefore maintains its "neutral" rating on the Philip Morris International share, while raising its target price from 78 dollars to 84 dollars (current price about 86 dollars).
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.