Philip Morris: Jefferies still says buy, but cuts TP
(CercleFinance.com) - Jefferies maintains its "buy" rating on Philip Morris International shares, still seeing significant upside potential over the next three to five years.
However, the broker has reduced its target price for them from $111 to $105.
In its summary, the broker says it "we do see risk the near-term multiple could now be contained somewhat on the back of a more limited US IQOS launch".
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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.
However, the broker has reduced its target price for them from $111 to $105.
In its summary, the broker says it "we do see risk the near-term multiple could now be contained somewhat on the back of a more limited US IQOS launch".
Copyright (c) 2023 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.