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Upgrade Alert for Philip Morris (PM)

By David Diaz

Philip Morris (NYSE:PM) was upgraded from Neutral to Conviction Buy at Goldman Sachs today. The stock closed yesterday at $100.64 on volume of 6.3 million shares, above average daily volume of 4.1 million.

Philip Morris (NYSE:PM) is currently priced 11.2% above its average consensus analyst price target of $89.42. The stock should discover initial support at its 50-day moving average (MA) of $97.46 and subsequent support at its 200-day MA of $88.67.

Philip Morris International Inc., through its subsidiaries, affiliates and their licensees, produces, sells, distributes, and markets a wide range of branded cigarettes and tobacco products in markets outside of the United States of America. The Company's portfolio comprises both international and local brands.

In the past 52 weeks, shares of Philip Morris have traded between a low of $76.54 and a high of $104.20 and closed yesterday at $100.64, which is 31% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.3%.

SmarTrend is tracking the current trend status for Philip Morris and will alert subscribers who have PM in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades philip morris

Ticker(s): PM