Philip Morris sees FY13 EPS $5.68-$5.78, consensus $5.79 Excluding a forecasted total unfavorable currency impact of approximately 6c for FY13, the reported diluted EPS range represents a projected increase of 10%-12% versus adjusted diluted EPS of $5.22 in 2012. Forecast includes a one-year gross productivity and cost savings target for 2013 of approximately $300M. Forecast includes a share repurchase target amount for 2013 of $6B.
News For PM From The Last 14 Days
Check below for free stories on PM the last two weeks.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Actuant (ATU) downgraded to Market Perform from Outperform at FBR Capital... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Beacon Roofing (BECN) downgraded at Longbow... China Unicom (CHU) downgraded to Hold from Buy at Deutsche Bank... Erickson (EAC) downgraded at Stifel... H.B. Fuller (FUL) downgraded to Neutral from Overweight at Piper Jaffray... Philip Morris (PM) downgraded at BofA/Merrill... Seadrill (SDRL) downgraded to Sell from Neutral at Goldman... Starwood Property (STWD) downgraded to Neutral from Buy at Compass Point... Steel Dynamics (STLD) resumed with a Neutral from Buy at Citigroup... Vale (VALE) downgraded to Neutral from Buy at Citigroup.
Philip Morris downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded Philip Morris to Neutral from Buy. The firm downgraded shares based on prolonged dollar strength and lingering economic issues in developed and emerging markets. Price target lowered to $87 from $91.