UBS Lowers Philip Morris International's PT to $166, Maintains Neutral Rating

UBS has lowered its price target for Philip Morris International (PM) to $166 from $177, citing slower-than-expected growth in ZYN nicotine pouch sales. The firm maintains a 'Neutral' rating, expecting stable growth and a 3.35% yield. Despite intensifying competition, PM maintains an 18% share in the nicotine pouch market, which is projected to grow at a 22% CAGR through 2030.