Various news pieces reveal a flurry of activity around tobacco giant Philip Morris International (PM), painting a promising picture for interested investors. Despite some insider selling, the overwhelming majority of the company shares are held by institutional owners, indicating strong confidence in the business. Furthermore, PM's long-term growth prospects look favourable, with institutional owners impressed by their returns. This confidence seems to stem from PM's strategic moves, notably a $600 million investment in a Colorado manufacturing facility generating 500 jobs.
Several sources dubbed PM as a potential top stock, both for dividends and general growth. Hedge funds appear particularly bullish on the stock, questioning value underestimation up to 40%. PM's commitment to a 'smoke-free future' and innovative products like Zyn and heat-not-burn options are seen as growth drivers, with potential to boost stock prices.
The Q1 2024 earnings showed robust growth and beat estimates, though the EPS lagged slightly. Moreover, PM's performance won them a position on Forbes' 2024 Net Zero Leaders List. Mergers drawn include acquiring a 14.7% stake in Egypt's Eastern Company. PM also plans to collaborate with KT&G on regulatory submissions for new products.
Philip Morris International PM News Analytics from Tue, 30 Jan 2024 08:00:00 GMT to Thu, 15 Aug 2024 19:00:14 GMT - Rating 7 - Innovation 5 - Information 9 - Rumor -3
