{"id":40698,"date":"2023-09-28T12:30:11","date_gmt":"2023-09-28T12:30:11","guid":{"rendered":"https:\/?p=40698"},"modified":"2023-12-30T11:51:20","modified_gmt":"2023-12-30T11:51:20","slug":"pm-stock-philip-morris-reveals-ambitious-smoke-free-vision","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/pm-stock-philip-morris-reveals-ambitious-smoke-free-vision\/","title":{"rendered":"PM Stock: Philip Morris Reveals Ambitious Smoke-Free Vision"},"content":{"rendered":"

PM Stock (PM:NYE<\/a>), a leading provider of tobacco products, has set forth an ambitious agenda for the future, emphasizing a steadfast commitment to transitioning towards smoke-free products. This vision was disclosed at the company’s 2023 investor day held in Lausanne, Switzerland, where Philip Morris presented its growth prospects and strategic initiatives.<\/span><\/p>\n

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Pioneering a Smoke-Free Transformation:<\/span><\/h2>\n

Philip Morris aims to reshape its business model. It plans to target over two-thirds of net revenue from smoke-free products by 2030. Furthermore, this transformation underscores the company’s commitment to addressing evolving consumer preferences and emerging health considerations.<\/span><\/p>\n

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Robust Growth Targets and Aspirations:<\/span><\/h2>\n

In pursuit of its visionary objectives, Philip Morris has charted an ambitious course for the coming years. Moreover, the company’s goals include achieving a 6% to 8% CAGR for net revenues and a 9% to 11% CAGR for adjusted EPS from 2024 to 2026. Philip Morris is setting its sights on a heated tobacco unit shipment volume ranging from 180 billion to 200 billion units by 2026. Additionally, the company envisions a nicotine pouch shipment volume of 800 million to 1 billion cans during the same period.<\/span><\/p>\n

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Key Role of Smoke-Free Brands:<\/span><\/h2>\n

Central to Philip Morris’s transformation are its two prominent smoke-free brands, IQOS and ZYN. The company expects ZYN to boost double-digit compound annual growth in net revenue and adjusted operating income for its U.S. operations between 2024 and 2026.<\/span><\/p>\n

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Financial Projections for PM Stock:<\/span><\/h2>\n

For the full fiscal year 2023, Philip Morris anticipates earnings per share (EPS) range between $5.19 and $5.28. In the third quarter of the same year, the company foresees EPS settling at the lower end of the . (Xanax<\/a>) 60 to $1.65 range.<\/span><\/p>\n

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PM Stock Forecast:<\/span><\/h2>\n

Taking into account insights from 5 analysts, the average target price is $111.60 over the next 12 months. The average rating is “Strong Buy.” In contrast, Stock Target Advisor’s analysts are “Neutral,” based on 6 positive signals and 6 negative signals.<\/span><\/span><\/p>\n

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PM Ratings<\/a> by Stock Target Advisor<\/p>\n<\/div>\n