Jefferies Cuts Estimates on Philip Morris; Emerging Markets Growth Slowing (PM)
Jefferies & Co. announced on Friday that it has reduced its earnings estimates on tobacco company Philip Morris International Inc. (PM).
The firm cut its estimates on PM through 2014 due to growth in emerging markets slowing. Analysts have given the company a “Hold” rating and $92 price target. This price target suggests a 4% increase from the stock’s current price of $88.60.
Philip Morris shares were down 47 cents, or 0.53% during Friday morning trading. The stock is up 6% YTD.
The Bottom Line
Shares of Philip Morris International Inc. (PM) have a 3.83% yield, based on Friday morning’s price of $88.84.
Philip Morris International Inc. (PM) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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