Philip Morris International (PM) Price Target Raised to $123.00 at Morgan Stanley

Philip Morris International (NYSE:PM) had its price objective raised by investment analysts at Morgan Stanley from $120.00 to $123.00 in a report released on Tuesday. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 14.07% from the stock’s current price.

PM has been the subject of several other research reports. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a report on Friday, January 19th. Piper Jaffray Companies set a $130.00 target price on Philip Morris International and gave the company a “buy” rating in a research report on Thursday, November 16th. Finally, Bank of America cut their target price on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $125.14.

Shares of Philip Morris International (PM) traded down $0.78 on Tuesday, hitting $107.83. The stock had a trading volume of 1,438,563 shares, compared to its average volume of 4,731,487. Philip Morris International has a 12-month low of $95.20 and a 12-month high of $123.55. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13. The stock has a market cap of $171,147.42, a price-to-earnings ratio of 23.95, a PEG ratio of 2.16 and a beta of 0.89.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Philip Morris International by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after purchasing an additional 2,972,929 shares in the last quarter. Flossbach Von Storch AG increased its holdings in shares of Philip Morris International by 539.3% during the 3rd quarter. Flossbach Von Storch AG now owns 3,491,075 shares of the company’s stock worth $387,544,000 after buying an additional 2,945,025 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Philip Morris International by 2.7% during the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after buying an additional 2,421,533 shares during the last quarter. FMR LLC increased its holdings in shares of Philip Morris International by 12.5% during the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after buying an additional 2,330,864 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Philip Morris International by 57.8% during the 2nd quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock worth $685,999,000 after buying an additional 2,139,002 shares during the last quarter. 72.35% of the stock is currently owned by institutional investors.

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About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.