-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We increase our 12-month target by $25 to $175, based on a 2027 P/E of 18.9x, a justified premium to PM's 10-year average forward P/E of 17.9x due to its smoke-free growth prospects. We raise our adjusted EPS estimates by $0.05 to $8.50 for '26 and by $0.05 to $9.25 for '27. Following PM's earnings release, we are lowering our price target and maintaining a Hold on the shares. PM's Q1 results were solid, continuing its streak of better-than-expected earnings (nine straight quarters without a miss). While PM's smoke-free pivot has been extremely successful, we have concerns regarding slowing growth going forward and consider the shares fairly valued after the stock's outperformance over the past two years. PM has been one of the best-performing names in the Consumer Staples sector recently, with the stock rising 34% in 2024, followed by a 38% gain in 2025 (vs. increases of 23% and 16%, respectively, for the S&P 500).