Philip Morris' Raised Guidance Suggests Good Visibility: Goldman Sachs Analyst
Portfolio Pulse from Vandana Singh
Philip Morris International Inc. (NYSE:PM) reported strong Q3 results with revenue of $9.91 billion, surpassing expectations. The company raised its FY24 EPS outlook, driven by growth in smoke-free products and traditional cigarettes. Goldman Sachs maintains a Buy rating, citing strong business momentum.
October 22, 2024 | 9:51 pm
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Philip Morris reported Q3 revenue of $9.91 billion, exceeding expectations, and raised its FY24 EPS outlook. The company shows strong growth in smoke-free products and traditional cigarettes. Goldman Sachs maintains a Buy rating, indicating confidence in the company's momentum.
Philip Morris' strong Q3 performance and raised FY24 EPS outlook indicate positive business momentum. The company's growth in smoke-free products and traditional cigarettes, along with Goldman Sachs' Buy rating, suggest a likely positive impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100