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Stock impact report

Altria: High Yield Is Underwritten By Cigarettes, Not Vapes And Oral Pouches [Seeking Alpha]

Philip Morris International Inc (PM) 
Last philip morris international inc earnings: 4/21 06:59 am Check Earnings Report
US:NYSE Investor Relations: pmi.com/investor-relations/overview
Company Research Source: Seeking Alpha
I expect combustible dominance to continue going forward, due to litigation resulting in a sales ban for Altria's vapes, as well as the exploding market for illegally imported flavored products. Oral pouches (on!) also face significant competition from ZYNs (produced by Philip Morris). Despite these challenges, MO's ~10x forward multiple appears cheap, and the 8.6x operating income multiple for cigarettes (based on FY24) even more so. The firm's well-covered 7.5% dividend yield will be attractive to income-focused investors, and supports my buy rating. intek1/iStock Editorial via Getty Images Investment Thesis For Altria ( MO ), smoke-free products represent a small minority of revenues and earnings, leading to a very different business profile than that of its peer Philip Morris ( PM ), which I covered in a recent article My argument is This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companie Show less Read more
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