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In a report published Friday, Morgan Stanley analyst Matthew Grainger reiterated an Overweight rating and $92.00 price target on
Philip Morris International Inc.PM.
In the report, Morgan Stanley noted, “Solid Q3 results further de-risk 2014, while also providing scope for Q4 reinvestment and greater visibility to 8-10% underlying EPS growth in 2015. While we acknowledge that FX / EM concerns could constrain N-T upside, we remain OW ($92 PT) given improving fundamentals and reasonable valuation.”
Philip Morris International Inc. closed on Thursday at $85.26.
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