Societe Generale Upgrades PMI from "Sell" to "Hold"

PMI by 2FIRSTS.ai

Feb.14.2024

Societe Generale Upgrades PMI from "Sell" to "Hold"

Societe Generale upgrades Philip Morris International from "sell" to "hold" amid new product launches and patent settlement.

According to Marketbeat's latest report, stock research analysts at Societe Generale have upgraded their rating on Philip Morris International (NYSE: PM) from "sell" to "hold" and issued a memo to investors on February 13th.

PMI released its 2023 financial report on February 8th. The report stated that iQOS will be test marketed in the United States this year. Prior to this, the company settled a global patent dispute with British American Tobacco (BAT).

Other research analysts have recently published reports on this stock as well. Redburn Atlantic released a research report on Philip Morris International stock on Thursday, November 16, giving it a "neutral" rating and a target price of $95.00. UBS Group, in a research report on January 23, downgraded their rating on Philip Morris International from "buy" to "sell" and reduced their target price from $105.00 to $86.50. Lastly, JPMorgan Chase Bank published a research report on November 29, raising their target price on Philip Morris International from $110.00 to $115.00 and giving the company an "overweight" rating.

One analyst has issued a sell rating, three analysts have issued a hold rating, and six analysts have issued a buy rating. According to data from MarketBeat.com, the consensus rating for Philip Morris International is "moderate buy" with an average target price of $107.39.

Also Read:

[1] Counsellor: PMI-BAT Agreement to Reshape Competition with Mounting Pressure for Chinese E-cig Companies

[2] PMI and BAT Resolve Intellectual Property Dispute

#North America #United States #Market #PMI #Heated tobacco products

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