Market Overview

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

Related PM
Benzinga's Top Upgrades, Downgrades For May 25, 2017
18 Biggest Mid-Day Losers For Thursday
Related MO
Jim Cramer Shares His Thoughts On McDonald's, Vector Group And Coach
Earnings Scheduled For May 2, 2017

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)

View Comments and Join the Discussion!