Philip Morris: Smoke-Free Transformation and BTIG Buy Recommendation Fuel the Stock

The analysis firm BTIG initiates coverage of Philip Morris with a Buy rating and a price target of 216 USD. The exemplary transformation towards reduced-risk products outperforms the competition while maintaining stable development in the traditional tobacco business. The recent breakout under significantly increased trading volumes is supported by optimistic analyst reports and reaffirmed annual targets. The global tobacco and nicotine company Philip Morris is undergoing perhaps the most profound transformation in the consumer goods industry,...