IREN proposes $875 million convertible notes offering due 2031
On Tuesday, BofA Securities analysts increased the price target for Philip Morris International Inc. (NYSE: NYSE:PM) stock to $200 from $182, maintaining a Buy rating. The stock, currently trading near its 52-week high of $182.83, has delivered an impressive 53.19% return year-to-date. According to InvestingPro data, analyst targets for the stock range from $143.45 to $205, reflecting varied opinions on the company’s valuation. This adjustment follows a presentation by Emmanuel Babeau, the company’s CFO, at an investor conference in Paris, where he expressed confidence in the company’s smoke-free, multi-product strategy.
Philip Morris currently offers its three smoke-free brands—IQOS, ZYN, and VEEV—in 16 countries, with two brands available in 20 countries. The company noted that these products complement each other, avoiding internal competition and supporting growth. The firm aims for two-thirds of its sales to come from smoke-free products, driven by the growing acceptance of these brands. This strategy appears to be working, with the company maintaining impressive gross profit margins of 65.68% and generating $38.39 billion in revenue over the last twelve months. InvestingPro subscribers can access detailed analysis of PM’s financial health and growth metrics in the comprehensive Pro Research Report. The ZYN pouch product is highlighted as a significant innovation, allowing nicotine consumption without affecting others and enabling users to maintain an active lifestyle.
In the United States, Philip Morris has expanded its IQOS product to a second pilot market in Fort Lauderdale, Florida, as part of its strategy to prepare for a broader market entry. The company sees potential upside in its 2025 estimates if the ZYN capacity increases faster than expected or if the IQOS ILUMA receives timely approval from the FDA.
Philip Morris reaffirmed its 2025 guidance for organic earnings per share (EPS) growth, excluding foreign exchange effects, of 10.5-12.5%. The impact of foreign exchange on EPS remains unchanged at an increase of $0.10 per share. With a market capitalization of $284.45 billion and eight analysts revising earnings upward for the upcoming period, the company maintains a strong market position. For deeper insights into PM’s valuation and growth prospects, including exclusive ProTips and comprehensive financial metrics, visit InvestingPro.
In other recent news, Philip Morris International has reaffirmed its 2025 full-year earnings forecast, projecting diluted earnings per share (EPS) between $7.01 and $7.14. This forecast suggests a currency-neutral growth of 10.5% to 12.5% compared to the previous year’s adjusted EPS. Furthermore, Philip Morris issued $2.5 billion in new notes across four tranches, with the proceeds intended for general corporate purposes, including potentially refinancing existing debts. Shareholders at the company’s recent annual meeting approved several proposals, including the election of directors and the ratification of PricewaterhouseCoopers SA as the independent auditor for 2025.
Additionally, UBS has upgraded Philip Morris’s stock rating to Neutral from Sell, increasing the price target to $170, citing strong first-quarter earnings and a favorable outlook for the company’s smoke-free products. Meanwhile, the U.S. FDA and Customs and Border Protection seized $34 million worth of illegal e-cigarette products in a joint operation aimed at curbing unauthorized imports. These developments reflect ongoing regulatory challenges in the e-cigarette market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.