Shares of Philip Morris (PM) hit a new 52-week high on Wednesday. The stock traded as high as $63.97 during mid-day trading and last traded at $63.92. The stock previously closed at $63.34. Separately, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Philip Morris from $67.00 to $72.00 in a research note to investors on Wednesday, March 9th. They now have an “overweight” rating on the stock.

Also, analysts at Citigroup (NYSE: C) raised their price target on shares of Philip Morris from $60.50 to $63.50 in a research note to investors on Tuesday, March 1st. They now have a “hold” rating on the stock.

Philip Morris International Inc. (PMI) is engaged in the manufacture and sale of cigarettes and other tobacco products through its subsidiaries and affiliates. The Company’s products are sold in approximately 160 countries. PMI’s portfolio comprises both international and local brands. Its portfolio comprises both international and local brands, which include Marlboro, Merit, Parliament, Virginia Slims, L&M, Chesterfield, Bond Street, Lark, Muratti, Next, Philip Morris and Red & White. The Company divides its markets into four geographic regions: The European Union (EU); The Eastern Europe, Middle East and Africa (EEMA); The Asia Region, and The Latin America and Canada Region. As of December 31, 2009, PMI operated and owned 58 manufacturing facilities, operated two leased manufacturing facilities, one in Korea and one in Mexico, and maintained 30 contract manufacturing relationships with third parties. In September 2009, PMI acquired Swedish Match South Africa (Proprietary) Limited.

Shares of Philip Morris traded up 0.91% during mid-day trading on Wednesday, hitting $63.9182. Philip Morris has a 52 week low of $42.94 and a 52 week high of $64.60. The stock’s 50-day moving average is $61.36 and its 200-day moving average is $58.58. The company has a market cap of $114.9 billion and a price-to-earnings ratio of 16.16.

Philip Morris last announced its quarterly results on Thursday, February 10th. The company reported $0.97 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.96 EPS by $0.01. During the same quarter in the prior year, the company posted $0.81 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts predict that Philip Morris will post $1.14 EPS next quarter.

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