Philip Morris' Q3 Driven By Smoke-Free Products Amid Rising Market Share In Key Regions: Analyst Forecasts Growth Across IQOS And ZYN Brands
Portfolio Pulse from Nabaparna Bhattacharya
Philip Morris International Inc (NYSE:PM) reported strong Q3 results driven by growth in smoke-free products like IQOS and ZYN. Stifel analyst Matthew E. Smith reiterated a Buy rating, raising the price target to $145. The company saw an 8.4% revenue increase, with significant market share growth in Europe and Japan.
October 23, 2024 | 7:10 pm
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Philip Morris International's Q3 results exceeded expectations with an 8.4% revenue increase, driven by smoke-free products. Analyst Matthew E. Smith raised the price target to $145, citing strong growth in IQOS and ZYN brands and market share gains in Europe and Japan.
The strong Q3 performance, driven by smoke-free products, and the raised price target by a reputable analyst suggest a positive short-term impact on PM's stock price. The growth in market share in key regions further supports this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100