Morgan Stanley and Stifel Raise Confidence in Philip Morris (PM) Ahead of ZYN Ultra Launch and IQOS Expansion

Philip Morris International Inc. (NYSE:PM) ranks among the best sin stocks to buy for recession protection. Morgan Stanley boosted Philip Morris International Inc. (NYSE:PM)’s price objective to $200 from $190 on June 3, retaining an Overweight rating on the stock. The firm referenced the company’s planned launch of Zyn Ultra and an IQOS Japan revamp as reasons for the rating.

The same day, Stifel reaffirmed its Buy rating and $195 price target for Philip Morris International Inc. (NYSE:PM) following the company’s presentation at a conference. Stifel restated a Buy rating and a $195 price target for Philip Morris International Inc. (NYSE:PM) after the company’s conference presentation. Philip Morris observed that solid performance in its smoke-free and combustibles businesses helps mitigate headwinds not anticipated in the original forecast, including inflation and conflict-related disruptions.

Moreover, the company’s products, including ZYN ULTRA, will be available in the United States this month in 9mg and 11mg doses in a moist form, as well as 20 pouch cans. Stifel believes the introduction will help Philip Morris improve its market-share momentum and close the product and value gap with peers.

Philip Morris International Inc. (NYSE:PM) operates as a global tobacco company. Its products include cigarettes and smoke-free alternatives. Its smoke-free business also covers wellness and healthcare products, along with consumer accessories such as lighters and matches.

While we acknowledge the risk and potential of PM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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