A Bull Market Is Coming: 3 Reasons to Buy Philip Morris International Stock
Tobacco company Philip Morris International (NYSE: PM) was created when Altria Group (NYSE: MO) spun off its non-U.S. businesses in 2008. However, Philip Morris hasn't done so well on its own; the stock has not only underperformed the S&P 500 over the last decade but lagged sister company Altria too.
Philip Morris is a U.S. company that reports in USD; when the dollar is stronger than currencies in other foreign markets, the company takes an exchange rate hit on every dollar it brings in.
Those currency headwinds and generally negative sentiment toward tobacco stocks help explain the disappointing returns. But that could change when the next bull market begins. Here are three reasons to consider buying Philip Morris stock today.
Source Fool.com
