Philip Morris International
Fabrice Coffrini/AFP via Getty Images
Philip Morris International has been picking up steam and analyst praise in recent months. The tobacco maker’s upcoming first quarter, due out before the bell Tuesday, is a chance for the stock to notch another leg up.
Philip Morris (PM) is up just over 12% year to date, and has risen nearly 21% in the past 12 months.
The stock scored an upgrade earlier this month, as analysts praise its heat-not-burn device, iQos, which they believe will dominate the market as consumers increasingly turn to reduced risk products over traditional combustible cigarettes.
Other analysts have argued that the industry as a whole could see an upbeat reporting season.
Philip Morris shares got a boost after its previous better-than-expected fourth-quarter results, delivered in February.
For the upcoming report, analysts are looking for earnings per share of $1.40 on revenue of $7.27 billion, according to FactSet. That compares with EPS of $1.26 and revenue of $7.44 billion in the prior quarter.
Three quarters of the 20 analysts tracked by FactSet rate Philip Morris a Buy or the equivalent, while a quarter rate it at Hold. There are no bearish calls on the Street. The average analyst price target is $100.48.
Philip Morris will host a conference call at 9 a.m. EDT on Tuesday.
Write to Teresa Rivas at [email protected]
