01:40 PM EDT, 10/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $15 to $160, based on a 2026 P/E of 19.2x, a justified premium to its 10-year mean forward P/E of 17.9x due to growth prospects. We raise our adjusted EPS estimates to $7.55 from $7.50 for 2025, to $8.35 from $8.25 for 2026, and introduce 2027 at $9.10. Following better-than-expected Q3 earnings, we are lowering our price target and maintaining a Hold on shares of PM. Shares traded down 7% on October 21, as we think the release left investors scratching their heads about why PM did not raise full-year EPS guidance following a massive $0.14/share beat for Q3. We think the guidance has investors questioning growth expectations going forward, with investors particularly sensitive to signs of slowing volume growth. We note that PM's total shipments rose only 0.7% Y/Y in Q3, down from 1.2% in Q2 and 3.9% in Q1. In our view, this is a case of stock price appreciation having significantly outpaced earnings growth, resulting in the multiple contraction taking place today.