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Philip Morris International’s Estimates Boosted at Morgan Stanley (PM)

By Dividend.com,  June 18, 2012, 08:49:18 AM EDT

Tobacco giant Philip Morris International Inc. ( PM ) on Monday caught some continued bullish commentary from analysts at Morgan Stanley.

The firm maintained its "Overweight" rating and $90 price target on PM, suggesting a 2.6% upside to the stock's Friday closing price of $87.73.

Morgan Stanley also raised its earnings estimates for the company through 2014, noting that product pricing remains strong and the company is buying back more shares.

Philip Morris International shares were unchanged in premarket trading Monday.

The Bottom Line
We have been recommending shares of Phillip Morris International ( PM ) since Jan.19, when the stock was trading at $73.26. The company has a 3.51% dividend yield, based on last night's closing stock price of $87.73.

Philip Morris International Inc. ( PM ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: PM



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