Rotten Tomato Stocks
No Result
View All Result
  • News
    Vizio Swings to 1Q on Decline in Device Sales

    Vizio Swings to 1Q on Decline in Device Sales

    High Inflation Leaves Food Banks Struggling to Meet Needs

    High Inflation Leaves Food Banks Struggling to Meet Needs

    Nintendo’s Profit Dips Slightly as Switch Console Sales Slow

    Nintendo’s Profit Dips Slightly as Switch Console Sales Slow

    Wall Street’s Losses Worsen as Markets Tumble Worldwide

    Wall Street’s Losses Worsen as Markets Tumble Worldwide

  • NYSE
    Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

    Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

    Wells Fargo & Co. stock falls Thursday, underperforms market

    Wells Fargo & Co. stock falls Thursday, underperforms market

    Boeing, American Express share losses contribute to Dow’s 240-point drop

    Boeing, American Express share losses contribute to Dow’s 240-point drop

    Dutch Bros. stock spills 37% lower after forecast cut due to inflation

    Dutch Bros. stock spills 37% lower after forecast cut due to inflation

  • NASDAQ
    Tesla, Twitter Shares Drop as Elon Musk’s Legal Issues Grow

    Tesla, Twitter Shares Drop as Elon Musk’s Legal Issues Grow

    Cisco Systems Inc. stock falls Thursday, underperforms market

    Cisco Systems Inc. stock falls Thursday, underperforms market

    DocGo (NASDAQ:DCGO) Sets New 12-Month Low After Analyst Downgrade

    DocGo (NASDAQ:DCGO) Sets New 12-Month Low After Analyst Downgrade

    Rivian stock dives into record-low territory after Ford disclosed it sold more than $200 million worth of shares

    Rivian stock dives into record-low territory after Ford disclosed it sold more than $200 million worth of shares

  • OTC
    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    Bitcoin Is Falling: Should You Buy the Dip?

    Bitcoin Is Falling: Should You Buy the Dip?

    CN Rail Stock Is So Undervalued That it’s Absurd

    CN Rail Stock Is So Undervalued That it’s Absurd

  • News
    Vizio Swings to 1Q on Decline in Device Sales

    Vizio Swings to 1Q on Decline in Device Sales

    High Inflation Leaves Food Banks Struggling to Meet Needs

    High Inflation Leaves Food Banks Struggling to Meet Needs

    Nintendo’s Profit Dips Slightly as Switch Console Sales Slow

    Nintendo’s Profit Dips Slightly as Switch Console Sales Slow

    Wall Street’s Losses Worsen as Markets Tumble Worldwide

    Wall Street’s Losses Worsen as Markets Tumble Worldwide

  • NYSE
    Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

    Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

    Wells Fargo & Co. stock falls Thursday, underperforms market

    Wells Fargo & Co. stock falls Thursday, underperforms market

    Boeing, American Express share losses contribute to Dow’s 240-point drop

    Boeing, American Express share losses contribute to Dow’s 240-point drop

    Dutch Bros. stock spills 37% lower after forecast cut due to inflation

    Dutch Bros. stock spills 37% lower after forecast cut due to inflation

  • NASDAQ
    Tesla, Twitter Shares Drop as Elon Musk’s Legal Issues Grow

    Tesla, Twitter Shares Drop as Elon Musk’s Legal Issues Grow

    Cisco Systems Inc. stock falls Thursday, underperforms market

    Cisco Systems Inc. stock falls Thursday, underperforms market

    DocGo (NASDAQ:DCGO) Sets New 12-Month Low After Analyst Downgrade

    DocGo (NASDAQ:DCGO) Sets New 12-Month Low After Analyst Downgrade

    Rivian stock dives into record-low territory after Ford disclosed it sold more than $200 million worth of shares

    Rivian stock dives into record-low territory after Ford disclosed it sold more than $200 million worth of shares

  • OTC
    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    China Eastern Airlines 3Q Loss Widens on Low Travel Demand

    Corus Entertainment 4Q Profit Falls

    Corus Entertainment 4Q Profit Falls

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Nintendo Co. Ltd. ADR falls Monday, still outperforms market

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

    Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

  • TSX
    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    US Seeks to Fine Air Canada $25.5 Million Over Slow Refunds

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    S&P/TSX composite falls on drop in materials sector, loonie tops 81 cents US

    Bitcoin Is Falling: Should You Buy the Dip?

    Bitcoin Is Falling: Should You Buy the Dip?

    CN Rail Stock Is So Undervalued That it’s Absurd

    CN Rail Stock Is So Undervalued That it’s Absurd

No Result
View All Result
Rotten Tomato Stocks
No Result
View All Result

Philip Morris stock drops as Russia exposure triggers downgrade

Editorial Staff by Editorial Staff
March 8, 2022
0
Philip Morris stock drops as Russia exposure triggers downgrade

J.P. Morgan analyst Jared Dinges cuts rating to neutral, lowers stock price target by 15%

Shares of Philip Morris International Inc. took a hit Monday, after J.P. Morgan analyst Jared Dinges recommended investors stop buying, given risks from the cigarette seller’s exposure to Russia and Ukraine.

The Marlboro-brand parent’s stock PM, -6.61% slumped 6.0% in morning trading toward the lowest close of 2022. It has tumbled 13.6% since Russia’s invasion of Ukraine was launched on Feb. 24, and has slid 16.2% since closing at a more than four-year high of $111.90 on Feb. 17.

In comparison, the SPDR Consumer Staples Select Sector exchange-traded fund XLP, -1.82%, of which Philip Morris is a components, has gained 0.7% since the invasion began.

J.P. Morgan’s Dinges downgraded the stock to neutral from overweight and lowered his price target to $110 from $130.

He said Russia and Ukraine account for about 23% of Philip Morris’ (PMI) heated tobacco unit (HTU) sales and the continued growth in that category is “instrumental” for the company to reach its NGP (next-generation product) growth targets. Given that the outlook for Russia’s economic growth has been reduced since the invasion and subsequent financial sanctions were imposed, and since the company’s Ukraine operations have been suspended, Dinges no longer expects HTU guidance for 2022 to be achieved.

“NGP momentum is a fundamental pillar in the PMI equity story; with visibility on PMI’s NGP outlook quickly deteriorating (and unlikely to improve near term) and downside risks growing, we downgrade to neutral,” Dinges wrote in a note to clients.

In PMI’s 10-K annual report filing with the Securities and Exchange Commission, the company disclosed that shipments of cigarettes to Russia in 2021 fell to 52.5 billion units from 55.6 billion units in 2021, and the percentage of total cigarette shipments fell to 8.4% from 8.8%.

For HTUs, Russia shipments rose to 16.3 billion units from 13.6 billion units, while percentage of total HTU shipments slipped to 17.2% from 17.9%.

Meanwhile, PMI’s HTU market share in Russia improved to 7.4% from 6.3%, while the company’s overall HTU market share increased to 3.5% from 3.0%.

J.P. Morgan’s Dinges is a minority on Wall Street, as 11 analysts, or 61% of the 18 analysts surveyed by FactSet have the equivalent of buy ratings on PMI’s stock, and rest have the equivalent of neutral ratings. The average price target is $114.27, which is 3.9% above Dinges’ price target.

Despite the recent weakness, Philip Morris shares have gained 3.8% over the past three months and advanced 8.9% over the past 12 months, while the S&P 500 index SPX, -2.95% has dropped 8.9% the past three months and rallied 11.1% over the past year.

Related Posts

Clean Harbors (NYSE:CLH) Downgraded by StockNews.com
NYSE

Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

May 13, 2022
Wells Fargo & Co. stock falls Thursday, underperforms market
NYSE

Wells Fargo & Co. stock falls Thursday, underperforms market

May 13, 2022
Boeing, American Express share losses contribute to Dow’s 240-point drop
NYSE

Boeing, American Express share losses contribute to Dow’s 240-point drop

May 13, 2022
Dutch Bros. stock spills 37% lower after forecast cut due to inflation
NYSE

Dutch Bros. stock spills 37% lower after forecast cut due to inflation

May 12, 2022
Load More
Next Post
American Express, Nike share losses contribute to Dow’s 550-point fall

American Express, Nike share losses contribute to Dow's 550-point fall

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

POPULAR NEWS

CNH Industrial (NYSE:CNHI) Use Of Debt Could Be Considered Risky

CNH Industrial (NYSE:CNHI) Use Of Debt Could Be Considered Risky

April 14, 2021
10 Warning Signs That Should Tell You “This Stock is in Trouble”

10 Warning Signs That Should Tell You “This Stock is in Trouble”

November 11, 2019
Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

Ocado Group PLC Revenue of Ocado Retail in Q3 Fell 10.6%

September 14, 2021
Nektar, worst performing stock in S&P 500, gets booted from the index

Nektar, worst performing stock in S&P 500, gets booted from the index

November 12, 2019
CN Rail Stock Is So Undervalued That it’s Absurd

CN Rail Stock Is So Undervalued That it’s Absurd

May 2, 2021

EDITOR'S PICK

Walgreens Boots Alliance Inc. stock falls Monday, underperforms market

Walgreens Boots Alliance Inc. stock falls Monday, underperforms market

February 1, 2022
Netflix Shares Drop 25% After Service Loses 200K Subscribers

Netflix Shares Drop 25% After Service Loses 200K Subscribers

April 20, 2022
What Elizabeth Warren Means For Markets

What Elizabeth Warren Means For Markets

April 14, 2021
NVIDIA Corp. stock falls Tuesday, underperforms market

NVIDIA Corp. stock falls Tuesday, underperforms market

September 28, 2021

Stay Updated

Get breaking news delivered straight into your inbox

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Rotten Tomato stocks is a wholly-owned subsidiary of Grainne Capital Limited.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Rotten Tomato Stocks cover the companies and markets that are declining, failing or headed for disaster. We help investors spot the down tends and recognize when something smells rotten.

RECENT POSTS

Vizio Swings to 1Q on Decline in Device Sales

Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

Wells Fargo & Co. stock falls Thursday, underperforms market

POPULAR POSTS

Boeing, American Express share losses contribute to Dow’s 240-point drop

Tesla, Twitter Shares Drop as Elon Musk’s Legal Issues Grow

Cisco Systems Inc. stock falls Thursday, underperforms market

© Copyright 2021 RottenTomatoStocks. All Rights Reserved 

Disclaimer | Privacy Policy

No Result
View All Result
  • HOME
  • NEWS
  • NYSE
  • NASDAQ
  • OTC
  • TSX

© 2021 RottenTomatoStocks.com

error: Content is protected !!
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.