Goldman Cuts Price Target for Philip Morris International (PM)

Filed in dividend, earnings, Gold, Gold Investment, goldman sachs, shares by on May 12, 2010 0 Comments

Cigarette maker Philip Morris International Inc. ( PM ) saw its price target cut on Wednesday by analysts at Goldman Sachs. The firm lowered its price target for the stock to $59 from $62, citing a lack of near-team earnings upside. Goldman also noted that currency fluctuations could weigh on results. The analyst removed the stock from its “Conviction Buy” list, but maintained its “Buy” rating. Philip Morris International shares, which had closed at $48.35 on Tuesday, fell 54 cents, or -1.1%, in premarket trading Wednesday. The Bottom Line We have been recommending shares of PM since Mar.12, 2009, when the stock was trading at $33.65. The company has a 4.80% dividend yield, based on last night’s closing stock price of $48.35. Philip Morris International Inc. ( PM ) is a “highly recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.9 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Goldman Cuts Price Target for Philip Morris International (PM)

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