2024-03-14 07:30:00 ET
Summary
- The ongoing evolution of the tobacco industry heavily favors Philip Morris International.
- The tobacco juggernaut’s net revenue and adjusted diluted EPS surged higher in the fourth quarter.
- PMI enjoys an A- credit rating from S&P on a stable outlook.
- Shares of the company could be priced at an 8% discount to fair value.
For much of the history of humanity, people have smoked in at least some capacity. According to the BBC, a 2021 discovery of charred tobacco plant seeds in a Utah fireplace indicates that early Americans potentially used the plant as far back as over 12,000 years ago .
This revelation provides potential evidence that the use of tobacco dates back much further than a smoking pipe in what's now Alabama dated over 3,000 years old....
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Philip Morris International: Buy This High-Yielding Stock