UPDATE: Globally, Philip Morris is a smoking buy
Recent decelerating revenue growth has disappointed investors but is a temporary phenomenon, says Morningstar StockInvestor editor Matt Coffina.
We don't expect to make any significant changes to our fair value estimate for Altria MO following the release of fourth-quarter and full-year results by the firm. While the company's core tobacco franchises, Philip Morris USA and Philip Morris International , performed well in 2006, Altria's ...
Our top managers continue to focus on higher-quality businesses, with dividend-paying stocks like Philip Morris International rising to the forefront during the most recent period.
Amid the current challenging environment for defensive names, we see several opportunities for long-term investment in wide-moat companies at reasonable discounts.
We think this wide-moat firm has room to improve its operational efficiency.
Our top managers continue to focus on higher-quality businesses rather than seeking out bargains in a market that (in many of their minds) has become fully valued.