BUZZ-Street View: Smoke-free product growth keeps Philip Morris on a high
PM•Broker views on smoke-free momentum
BofA Global Research ("buy," PT: $194.30) says PM getting its smoke-free product ZYN's growth back on track is likely to be the key factor driving co's H2 share performance.
Morgan Stanley ("overweight," PT: $200) says underlying growth in smoke-free products, like ZYN, still looks strong, and co is spending wisely to fuel future growth.
Stifel ("buy," PT: $205) says co's robust smoke-free product business should support long-term growth.
Needham ("buy," PT: $215) says PM's strong sales in both cigarettes and smoke-free products continue to let it keep investing in growth without hurting its financial targets, "which is a clear competitive advantage".
Philip Morris beats estimates and boosts smoke-free investment
Philip Morris International PM.N beat Q2 earnings estimates on Wednesday and said it would ramp up investment in its smoke-free product, Zyn nicotine pouches, as competition intensifies in the fast-growing category.
