Philip Morris (PM -0.1%) presented at the Morgan Stanley Consumer & Retail conference today...

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

Philip Morris (PM -0.1%) presented at the Morgan Stanley Consumer & Retail conference today with execs highlighting the firm's estimate that the global cigarette market will grow at a moderate pace of up to 1.1% even with smoking rates in the U.S. dropping off. The company reiterates its previous outlook for 2012 EPS of $5.12-$5.18. Naturally, share repurchases are still a major focus of the company and the company says it sees "significant intrinsic value" in continuing its aggressive buyback pace. (webcast)