BofA Securities raised the Philip Morris International (PM) price target to $209 from $200. The firm maintains a Buy rating on the stock.
Recent shifts in U.S. Food and Drug Administration (FDA) enforcement policies drove the upward revision. Analysts cited a valuation premium based on operational strength and smoke-free product growth.
Massimo Andolina will become Group Chief Financial Officer on August 1, 2026. He succeeds Emmanuel Babeau in the role.
Andolina currently leads the company’s smoke-free portfolio in Europe. This transition aligns the finance department with the ongoing shift toward non-combustible products.