Philip Morris Analyst Raises Forecasts Ahead Of Q3 Earnings, But 'Consumer Elasticities Remain A Risk'
Portfolio Pulse from Priya Nigam
Goldman Sachs analyst Bonnie Herzog has raised the price target for Philip Morris International (NYSE:PM) from $126 to $140, maintaining a Buy rating ahead of the company's Q3 earnings report. The analyst cites strong iQOS momentum, easing ZYN supply constraints, and favorable FX trends as near-term catalysts, while highlighting potential risks from consumer elasticities.
September 25, 2024 | 5:08 pm
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Goldman Sachs analyst Bonnie Herzog has increased the price target for Philip Morris International to $140, maintaining a Buy rating. The analyst expects strong Q3 results driven by iQOS momentum and easing ZYN supply constraints, but notes consumer elasticities as a risk.
The analyst's positive outlook and increased price target suggest a likely short-term positive impact on PM's stock price. The focus on iQOS and ZYN as growth drivers, along with easing supply constraints and favorable FX trends, supports this view. However, consumer elasticities pose a potential risk.
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