Tobacco.org

Market Blog - Feeling good about Philip 

Defensive tobacco stocks look passé on a day when investors are scooping up high-growth stocks that will benefit from a bull market and renewed economic growth. But that doesn't mean Philip Morris International Inc. will stay tossed aside for long.

Jonathan Fell, an analyst at Deutsche Bank, initiated coverage on the stock with a "buy" recommendation and a 12-month target price of $57 (U.S.). The company, the result of a recent spin off from Altria Group Inc., which separated the company's domestic and international operations, traded at $50.02 in New York on Tuesday, down 56 cents or 1.1 per cent.

Jump to full article »