Philip Morris Raises Target to $210 on 12.8% Smoke-Free Volume Surge
Argus raised its price target on Philip Morris International to $210 from $190 and maintained a Buy rating, citing stronger revenue contributions from ZYN nicotine pouches. In Q4 2025, smoke-free volumes rose 12.8% and gross profit jumped 18.7%, while IQOS shipments grew 11% and global presence reached 106 markets.
1. Analyst Upgrade
Argus raised its price target on Philip Morris International to $210 from $190 and maintained a Buy rating, highlighting expected revenue growth from ZYN nicotine pouches.
2. Q4 Smoke-Free Growth
During Q4 2025, smoke-free volumes rose 12.8% and organic gross profit jumped 18.7%, underscoring the profitability of reduced-risk products.
3. Global Smoke-Free Expansion
IQOS shipments increased around 11% and in-market sales expanded as the smoke-free portfolio reached 106 markets, while ZYN and VEEV volumes more than doubled in key regions.