Nomura reported on Wednesday that they have upgraded cigarette and tobacco company, Philip Morris International Inc.(PM).
The firm have increased their rating on PM to “Neutral,” and has given the company a $94.80 price target. This price target suggests a 4.5% increase from the stock’s current price of $90.55.
Analysts have upgraded PM based on the stock’s factoring of slow growth in Asia.
Philip Morris shares were up 45 cents, or 0.50% during Wednesday morning trading. The stock has increased 11% in the past year.
The Bottom Line
Shares of Philip Morris International Inc.(PM) have a 3.77% yield, based on Tuesday’s closing price of $90.14.
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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