2024-05-17 16:38:45 ET
Summary
- Philip Morris International is narrowly outside the top 10 holdings in my dividend growth stock portfolio.
- The company's receptiveness to shifting consumer preferences is paying off in a big way, with plans to be 2/3 smoke-free by 2030 remaining attainable.
- PM's A-rated balance sheet is supported by an interest coverage ratio of above 10.
- Shares of the big tobacco company could be priced 9% below fair value.
- PM could be set up to deliver 40%+ cumulative total returns by the end of 2026.
As a dividend growth investor, the future of my investments is what matters to me most. This is because achieving my financial goals hinges on making my money work very hard for me.
Paradoxically, I find that seeing the future requires going back into the past and working my way to the present day. That can allow me to judge the trajectory of a company's corporate culture. When a business maintains a culture of innovation and responsiveness to its customers, it almost can't help but succeed....
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Philip Morris International: The Smoke-Free Future Is Now Here