Manufacturing Gauge Performance: China's official manufacturing purchasing managers index (PMI) increased slightly to 49.4 in August, up from 49.3 in July, indicating a marginal improvement in factory output.
Contraction Status: Despite the slight rise, the PMI remains below the critical threshold of 50 for the fifth consecutive month, signaling ongoing contraction in the manufacturing sector.
Economic Expectations
Forecast Comparison: The August PMI reading fell short of economists' expectations, which had predicted a figure of 49.5 according to a Wall Street Journal survey.
Market Demand Concerns: The data reflects subdued market demand, suggesting that while production may be picking up, overall economic activity in the manufacturing sector is still struggling.
PM
$157.95+Infinity%1D
Analyst Views on PM
Wall Street analysts forecast PM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PM is 185.25 USD with a low forecast of 166.00 USD and a high forecast of 200.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
Wall Street analysts forecast PM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PM is 185.25 USD with a low forecast of 166.00 USD and a high forecast of 200.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
1 Hold
0 Sell
Strong Buy
Current: 158.410
Low
166.00
Averages
185.25
High
200.00
Current: 158.410
Low
166.00
Averages
185.25
High
200.00
JPMorgan
Overweight
downgrade
$190 -> $185
2025-11-26
Reason
JPMorgan
Price Target
$190 -> $185
2025-11-26
downgrade
Overweight
Reason
JPMorgan lowered the firm's price target on Philip Morris to $185 from $190 and keeps an Overweight rating on the shares.
Barclays
Gaurav Jain
Overweight
downgrade
$220 -> $180
2025-11-17
Reason
Barclays
Gaurav Jain
Price Target
$220 -> $180
2025-11-17
downgrade
Overweight
Reason
Barclays analyst Gaurav Jain lowered the firm's price target on Philip Morris to $180 from $220 and keeps an Overweight rating on the shares. The firm updated estimates post the Q3 report. It reduced Philip Morris' valuation multiple to incorporate the new ZYN competitive dynamics.
Morgan Stanley
Eric Serotta
Overweight
downgrade
$182 -> $175
2025-10-22
Reason
Morgan Stanley
Eric Serotta
Price Target
$182 -> $175
2025-10-22
downgrade
Overweight
Reason
Morgan Stanley analyst Eric Serotta lowered the firm's price target on Philip Morris to $175 from $182 and keeps an Overweight rating on the shares following a Q3 EPS beat driven by shipment timing and lowered FY25 operating income guidance on higher U.S. Zyn investment. While the firm doesn't expect Q3 results to allay market concerns about soft Zyn trends and promotions, the firm sees "substantial" and above-consensus and above what's priced-in growth ahead, the analyst tells investors.
Goldman Sachs
Bonnie Herzog
Buy
maintain
2025-10-22
Reason
Goldman Sachs
Bonnie Herzog
Price Target
2025-10-22
maintain
Buy
Reason
Goldman Sachs analyst Bonnie Herzog reiterates a Buy rating on Philip Morris following the better than expected Q3 results, telling investors in a research note that the selloff following the event is "overdone." The firms continue to believe Philip Morris is a "show me story" regarding ZYN and the scanner data for ZYN will remain an important litmus test for the stock.
About PM
Philip Morris International Inc. is an international tobacco company. The Company’s product portfolio primarily consists of cigarettes and smoke-free products. Its smoke-free business (SFB) also includes wellness and healthcare products, as well as consumer accessories, such as lighters and matches. The Company’s segments include Europe Region; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); East Asia, Australia & PMI Global Travel Retail (EA, AU & PMI GTR), and Americas Region. The Company's brands include Marlboro, HEETS, IQOS, IQOS ILUMA, TEREA, VEEV and ZYN. Its IQOS smoke-free product brand portfolio includes heated tobacco and nicotine-containing vapor products. Its international cigarette brands are Chesterfield, L&M, and Philip Morris. It also owns a number of local cigarette brands, such as Dji Sam Soe and Sampoerna A in Indonesia, and Fortune and Jackpot in the Philippines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
