Philip Morris International Inc. (NYSE:PM) was upgraded by analysts at Bank of America to a “buy” rating in a research note issued on Thursday, ARNreports.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 30,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $91.11, for a total transaction of $2,733,300.00. Following the transaction, the chief executive officer now owns 749,554 shares of the company’s stock, valued at $68,291,864.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Louis C. Camilleri sold 80,000 shares of Philip Morris International stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $88.20, for a total transaction of $7,056,000.00. The disclosure for this sale can be found here.
Several other research analysts have also issued reports on the stock. Stifel Nicolaus increased their price target on shares of Philip Morris International to $110.00 and gave the stock a “buy” rating in a research note on Monday, March 14th. Nomura upgraded shares of Philip Morris International from a “reduce” rating to a “neutral” rating and raised their price objective for the company from $87.42 to $88.00 in a research note on Monday, November 30th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, January 4th. BNP Paribas upgraded shares of Philip Morris International from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $85.00 to $115.00 in a research note on Tuesday, March 8th. Finally, Vetr upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $93.43 price objective for the company in a research note on Thursday, February 18th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $96.45.
Source: American Banking and Market News