Market Overview

Wells Fargo Sees Philip Morris USA Boosting Cigarette Prices by 2-3%

Related PM
5 Consumer Goods Stocks With The Highest Operating Margin
Philip Morris International Inc. Increases Dividend By 6.4% To $1.00 Per Share; Announces Board Elections
The Stocks Already in Correction Mode (Fox Business)
Related MO
Altria Group Inc Stock Edges Closer To Profit-Taking Time
Stifel Bullish On Monsanto Company
Tobacco Majors Respond to Child Labor Report (Fox Business)

Wells Fargo's Bonnie Herzog issued a research note Thursday morning suggesting that the increase in prices would be bullish for the tobacco industry as the move points towards pricing power for the industry.

The pricing will be instituted on Marlboro and L&M brands, and is effective June 10th.

Phillip Morris (NYSE: PM) traded down 0.56 percent to $89.96 midway through Thursday.

Posted-In: News

 

Related Articles (PM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional