Tobacco Product Directives And The Outlook For Philip Morris
- Philip Morris spent about euro 5.25 million in lobbying members of the European Parliament last year, to influence tobacco regulations that would affect sales and costs for the company.
- The outlook of the cigarette market seems grim at this moment, as the Tobacco Directives may dampen sales in Europe, and as e-cigarettes gain popularity over traditional cigarettes.
- The company’s second-quarter results indicated sluggish performance, although earnings per share were higher than last year.
- A consensus "hold" rating has been placed on PM shares, and analysts have targeted a share price of $89.11.