Philip Morris International Inc. (NYSE:PM) hit a new all-time high, with its shares climbing to $183.96, marking a significant achievement for the global tobacco leader. The company boasts a hefty market cap of $285 billion and maintains robust gross profit margins close to 66%, underscoring its dominant position in the market. Over the past year, Philip Morris’s stock price has surged by an impressive 86.7%, reflecting solid investor confidence amid challenging industry conditions.

This record peak coincides with the company’s ongoing strategic shift toward smoke-free products, which has helped Philip Morris navigate evolving market demands and regulatory pressures with agility.

Recently, the firm reiterated its 2025 earnings guidance, forecasting adjusted EPS between $7.01 and $7.14, representing a currency-neutral growth rate of 10.5% to 12.5% year-over-year. CFO Emmanuel Babeau highlighted the company’s commitment to its smoke-free portfolio during a recent presentation.

In terms of market sentiment, BofA Securities upgraded its price target to $200, maintaining a Buy rating and praising Philip Morris’s multi-product smoke-free strategy as a key growth engine. Meanwhile, UBS holds a Neutral rating with a price target of $170, noting anticipated improvements in the U.S. market for its nicotine pouch brand ZYN.

Philip Morris is also expanding its IQOS product line, recently launching a second pilot program in Fort Lauderdale, Florida, as part of its broader U.S. market strategy. The company aims for two-thirds of its revenue to come from smoke-free alternatives, reflecting increasing consumer acceptance.

At its recent Annual Shareholders Meeting, Philip Morris confirmed board director elections and reappointed PricewaterhouseCoopers SA as its independent auditor for fiscal 2025. Shareholders also supported the advisory vote on executive compensation, indicating broad approval of the company’s governance and pay practices.

These developments underscore Philip Morris’s focus on innovation, governance, and sustained growth in the smoke-free segment.

Philip Morris International stock price