Philip Morris price target lowered to $180 from $186 at Stifel

Stifel lowered the firm’s price target on Philip Morris (PM) to $180 from $186 and keeps a Buy rating on the shares. Philip Morris reported a “strong” Q3 and raised its EPS growth outlook for the year while reiterating its organic sales outlook, but lowered its operating profit growth guidance to account for heavier investment spending behind the U.S. ZYN business, the analyst noted. The firm, which views the inventory reduction headwind as “transitory,” continues to view the company’s top line and EPS growth “favorably relative to global consumer staples peers.”