Lovende udsigter for Philip Morris International

PMI's dominans indenfor tobakprodukter og e-cigaretter gør det svært for konkurrerende selskaber at trænge ind på markedet.

Philip Gorham 08/04/2015

Analyse af Philip Morris International

Analyse, 11. marts 2015, Philip Gorham

As we had expected, the U.K. government passed a bill in the House of Commons that would introduce standardized packaging in the U.K. from 2016. The bill will now move to the House of Lords for final ratification next week. While we believe this development in isolation will have limited impact on the names under our coverage, we are concerned that the spread of plain pack legislation could be a significant negative for the industry, and we would probably revise our pricing assumptions for the global players if similar legislation spreads to other markets. Until we gain more visibility into governments' strategies, however, we are retaining our wide moat and stable moat trend ratings for the tobacco multinationals we cover.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

For at se denne artikel registrér dig som Morningstar Basis-medlem

Registrér dig gratis

Om forfatteren

Philip Gorham