UBS raises Philip Morris stock price target to $201 on earnings beat

Philip Morris International reported Q3 2026 adjusted EPS of $2.36, up 5.4%, on net revenues of $11.4B, up 5.5%. The company raised its quarterly dividend by 8.8% to $1.60. Reported EPS was $2.12, down 4.9% due to a non-cash adjustment.

Philip Morris International reported Q3 2026 revenue of $11.44B, up 5.5% YoY, but net income and EPS declined 4.7% and 4.9% respectively. Nine-month revenue rose 8.2% to $32.8B. Smoke-free shipments increased 6.4%, while cigarette shipments fell 1.2%.

Philip Morris International (PM) reported Q3 2026 results with organic net revenue growth of 7.1% and adjusted operating income growth of 10.5%, exceeding $5 billion. Smoke-free products drove growth, with IQOS and Veev shipments up. The company faces cost pressures from geopolitical conflicts, impacting full-year EPS growth. Guidance was lowered to the midpoint or lower half of the range. Operating cash flow is expected to reach approximately $13.5 billion.

AT&T reported Q3 revenue growth of 5.3% to $32.3B, raised 2026 adjusted EPS outlook to ~$2.40. Philip Morris saw Q3 revenue rise 5.5% to $11.4B, adjusted EPS up 5.4% to $2.36. Moody's reported 1% revenue growth to $2.023B, reaffirmed 2026 adjusted EPS forecast of $16.50-$17.00. Dell announced AI adoption by 6,500 enterprises.

Philip Morris reported Q3 2026 growth, with smoke-free products offsetting combustible declines. IQOS grew 10.8% (ex-Japan/Poland), Marlboro hit 11.4% international share, and ZYN saw 13% U.S. volume growth. Margins expanded 130 bps. Guidance: 5-7% organic revenue growth, 7.5-9.5% EPS growth (currency-neutral). Geopolitical and supply chain issues pose risks.

Philip Morris International (PM) rose 5.6% to $197.20 on Q3 earnings release day, an unusual move for a defensive stock. The company filed its report, and investors reacted positively.