Philip Morris Likely To Report Higher Q2 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Philip Morris International Inc. PM is expected to report its second-quarter financial results, before the opening bell on July 20, 2023.

Analysts expect the company to post quarterly earnings at $1.47 per share, up from year-ago earnings of $1.32 per share. The company’s revenue might come in at $8.65 billion.

Philip Morris shares rose 0.4% to close at $98.77 on Wednesday and lost 0.1% in the after-hours trading session.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Morgan Stanley analyst Pamela Kaufman reiterated an Overweight rating with a price target of $118 on June 27, 2023. This analyst sees around 19% upside in the company’s stock and has an accuracy rate of 65%.
• Stifel analyst Matthew Smith reinstated a Buy rating with a price target of $114 on April 14, 2023. This analyst sees around 15% upside in the company’s stock and has an accuracy rate of 69%.
• Goldman Sachs analyst Bonnie Herzog upgraded the stock from Neutral to Buy and raised the price target from $95 to $120 on Jan. 25, 2023. This analyst sees around 21% upside in the company’s stock and has an accuracy rate of 73%.
• Argus Research analyst David Coleman upgraded the stock from Hold to Buy with a price target of $110 on Nov. 15, 2022. This analyst sees around 11% upside in the company’s stock and has an accuracy rate of 68%.
• Stifel analyst Christopher Growe maintained a Buy rating and cut the price target from $115 to $105 on Oct. 14, 2022. This analyst sees around 6% upside in the company’s stock and has an accuracy rate of 71%.

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