Bank of Montreal Purchases 1.51 Million Shares of PMI
Special statement: This article is only intended as industry research reference and does not constitute any investment advice.
According to a recent filing with the United States Securities and Exchange Commission (SEC), the fourth-largest bank in Canada, Bank of Montreal, has acquired approximately 1.51 million shares of Philip Morris International (PMI) stock, worth approximately $148 million.
According to the released information, Montreal Bank of Canada acquired stocks of Philip Morris International (PMI) in the second quarter of 2023. As of the latest quarter end, Montreal Bank of Canada holds a 0.10% ownership stake in Philip Morris International (PMI).
In recent times, several securities research analysts on Wall Street have provided commentary on the PMI.
For instance, Morgan Stanley has lowered its price target for PMI from $118.00 to $113.00 and rated it as "overweight" in a research report. Similarly, Barclays Bank has also downgraded the target price for PMI from $115.00 to $110.00 and assigned a "hold" rating. UBS Group has adjusted its price target for PMI from $116.00 to $112.00 and rated it as a "buy" in their research report. Meanwhile, 22nd Century Group has reaffirmed their "buy" rating for PMI in a research report.
The market's expectations for Philip Morris International (PMI) vary, but the majority still believe it is worth buying. One investment analyst has given the stock a sell rating, another has given it a hold rating, while nine analysts have rated the company as a buy.
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