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Philip Morris In A Dying Industry - The Creative Destruction Of The Cigarette
| Nome: | Descrição: | Tamanho: | Formato: | |
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| 6.4 MB | Adobe PDF |
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This report represents an equity valuation of Philip Morris International Inc.,
one of the leading tobacco firms worldwide. For this, an intrinsic valuation in
form of a DCF model and a relative valuation based on multiples and
transactions was conducted. A target share price of $108.16 was derived which
depicts a Buy recommendation and a total upside potential including a dividend
of 10.79%. The firm was valued especially in light of its shifting business
model and a clear focus towards Risk-Reduced Products going forward.
Additionally, scenario and sensitivity analyses were performed.
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Philip Morris international Equity research valuation Tobacco Reduced-risk-products