Separately, analysts at Bank of America (NYSE: BAC) raised their price target on shares of Philip Morris to $85.00 in a research note to investors on Wednesday, January 11st. Analysts at Davenport downgraded shares of Philip Morris from a “buy” rating to a “neutral” rating in a research note to investors on Friday, January 6th. Also, analysts at Nomura (NYSE: NMR) downgraded shares of Philip Morris from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, December 8th.
Philip Morris International Inc. (PMI) is engaged in the manufacture and sale of cigarettes and other tobacco products through its subsidiaries and affiliates. The Company’s products are sold in approximately 160 countries. PMI’s portfolio comprises both international and local brands. Its portfolio comprises both international and local brands, which include Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris and Red & White. The Company divides its markets into four geographic regions: The European Union (EU); The Eastern Europe, Middle East and Africa (EEMA); The Asia Region, and The Latin America and Canada Region. As of December 31, 2009, PMI operated and owned 58 manufacturing facilities, operated two leased manufacturing facilities, one in Korea and one in Mexico, and maintained 30 contract manufacturing relationships with third parties. In September 2009, PMI acquired Swedish Match South Africa (Proprietary) Limited.
Philip Morris opened at 77.32 on Tuesday. Philip Morris has a 52-week low of $55.98 and a 52-week of $79.96. The stock has a 50-day moving average of $76.62 and a 200-day moving average of $70.40. The company has a market cap of $134.3 billion and a price-to-earnings ratio of 16.40.