Barclays raised the firm’s price target on Philip Morris to $220 from $205 and keeps an Overweight rating on the shares. The firm expects global nicotine pouches to hit $100B in retail sales in 2035, up from $8B in 2024. It prefers Philip Morris (PM), followed by British American Tobacco. Barclays cites the accelerating U.S. nicotine pouch industry for the target increase.
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