UBS lowered the firm’s price target on Philip Morris (PM) to $166 from $177 and keeps a Neutral rating on the shares. UBS forecasts U.S. nicotine pouches industry volumes reach 47B pouches in 2030, with industry revenues of $10B, the analyst tells investors in a research note. Philip Morris’ delivery in 2026 could be at the lower end of its medium-term range, but group should be able to deliver 11.5% reported EPS growth with a foreign exchange tailwind, the analyst says.
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