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According to Bank of America, Philip Morris International
PM price target is raised to $85.
Bank of America said that its PO is now $85, up from $80, based on a higher target valuation of 15x its FX-revised 2013 EPS estimate of $5.66. “Our 2012/13 EPS estimates are both $0.09 below the Street (based only on FX).”
Philip Morris International closed yesterday at $77.32.
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