Philip Morris Analyst Raises Forecasts Ahead Of Q3 Earnings, But 'Consumer Elasticities Remain A Risk'

Tobacco giant Philip Morris International Inc. PM invested $232 million to expand its Kentucky facility. Goldman Sachs analyst Bonnie Herzog expects the Marlboro parent company to report strong results for its fiscal third quarter on Oct. 22.Herzog reiterated a Buy rating and raised the price target from $126 to $140.The Philip Morris International Thesis: The cigarette producer is likely to "comfortably reach" a 10% share of the U.S. combustible and heat-not-burn market by around 2030, Herzog wrote in a no ...