Philip Morris International Inc
PM: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $685.00 | Tfs | Kzmstxhpj |
Philip Morris International: Raising Growth on Next-Generation Products; Shares Fairly Valued
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We've raised our long-term growth forecast after taking a more optimistic view of Philip Morris International's next-generation products. Our fair value estimate rises to $106 per share from $103. Our revised valuation implies a 2024 price/adjusted earnings ratio of 17 times, enterprise value/adjusted EBITDA of 14 times, and 5% dividend yield. These multiples are at the higher end of the tobacco peer group given the better long-term growth prospects its boasts.