Philip Morris (PM) Gains on ZYN MRTP Review, Stifel Maintains Buy Rating

Philip Morris International Inc. (NYSE:PM) ranks among the top consumer staples stocks according to hedge funds. On June 13, Stifel analyst Matthew Smith maintained his Buy rating on Philip Morris International Inc. (NYSE:PM), continuing his positive outlook. The update came in response to a combination of Philip Morris’s strategic posture and regulatory developments.

Philip Morris (PM) Gains on ZYN MRTP Review, Stifel Maintains Buy Rating

One such development comes in the form of the FDA beginning its review of Philip Morris’s Modified Risk Tobacco Product (MRTP) applications for ZYN products. This procedure, which comes after the previous PMTA approval, would give Philip Morris International Inc. (NYSE:PM) a competitive advantage in the tobacco industry by enabling it to offer ZYN with lower risk claims. Smith believes that ZYN has a good chance of being authorized under the MRTP, which is reinforced by the FDA’s previous positive comments on similar products.

Additionally, Philip Morris’s growth profile remains robust when compared to its counterparts in the global consumer staples market, thanks to its shift to smoke-free products and smart pricing tactics.

Philip Morris International Inc. (NYSE:PM) is a global tobacco company that provides services to consumers in over 180 countries. With Marlboro as its signature product, the firm stands out among the titans of “Big Tobacco.”

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Disclosure: None.