Barclays Sticks to Its Buy Rating for Philip Morris (PM)
In a report released today, Pallav Mittal from Barclays reiterated a Buy rating on Philip Morris, with a price target of $205.00.
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Mittal covers the Basic Materials sector, focusing on stocks such as UPM Kymmene, Mondi plc, and Stora Enso Oyj. According to TipRanks, Mittal has an average return of -2.6% and a 40.95% success rate on recommended stocks.
In addition to Barclays, Philip Morris also received a Buy from TipRanks – PerPlexity’s PerPlexity Tobacco in a report issued on March 14. However, on the same day, TipRanks – OpenAI downgraded Philip Morris (NYSE: PM) to a Hold.
Based on Philip Morris’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10.36 billion and a net profit of $2.14 billion. In comparison, last year the company earned a revenue of $9.71 billion and had a GAAP net loss of $579 million
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PM in relation to earlier this year. Last month, Yann Guerin, the Group CLO of PM sold 4,176.00 shares for a total of $758,909.92.
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