Philip Morris Received its Third Buy in a Row

By Austin Angelo

After Cowen & Co. and Stifel Nicolaus assigned a Buy rating to Philip Morris in the last month, the company received another Buy, this time from Piper Jaffray. Analyst Michael Lavery reiterated a Buy rating on Philip Morris (NYSE: PM) yesterday and set a price target of $137. The company’s shares closed yesterday at $104.86.

According to TipRanks.com, Lavery is a 2-star analyst with an average return of 2.9% and a 38.1% success rate. Lavery covers the Consumer Goods sector, focusing on stocks such as British American Tobacco, Reynolds American, and Imperial Brands.

Currently, the analyst consensus on Philip Morris is Strong Buy and the average price target is $127.40, representing a 21.5% upside.

In a report issued on January 10, Stifel Nicolaus also reiterated a Buy rating on the stock with a $125 price target.

Philip Morris’ market cap is currently $162.9B and has a P/E ratio of 23.15. The company has a book value ratio of -14.2779.

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