A plan by Philip Morris (PM +1.1%) to buy back $18B in shares on top of its lush 3.66% yield...

|About: Philip Morris Internation... (PM)|By:, SA News Editor

A plan by Philip Morris (PM +1.1%) to buy back $18B in shares on top of its lush 3.66% yield makes it an enticing stock for conservative investors, argues Barron's Dimitra Defotis. Though the stock trades with a forward P-E ratio higher than the multiple on the S&P 500, opportunities in emerging markets and the strength of the brand could justify the premium.