Philip Morris reaffirms FY13 reported EPS view $5.68-$5.78, consensus $5.78 Excluding an unfavorable currency impact of approximately 6c, the reported diluted EPS range represents a projected increase of 10%-12% versus adjusted diluted earnings per share of $5.22 in 2012. Currency volatility remains a risk going forward. Guidance to be reaffirmed at the CAGNY Conference.
Philip Morris initiated with a Neutral at JPMorgan JPMorgan earlier today started shares of Philip Morris with a Neutral rating and $90 price target. The firm expects the strong U.S. dollar to continue pressuring the company's earning and limit cash returns.