Argus Raises Philip Morris (PM) Outlook on Rising Contribution from Nicotine Pouches

Philip Morris International Inc. (NYSE:PM) is included among the 13 Best Long-Term Dividend Stocks to Invest in Right Now.

On February 26, Argus raised its price recommendation on Philip Morris International Inc. (NYSE:PM) to $210 from $190. It reiterated a Buy rating on the stock. The firm said the company’s ZYN nicotine pouches are expected to play a bigger role in driving revenue growth. Based on this outlook, the analyst believes the stock still has room to move higher.

During the Q4 2025 earnings call, Group CEO Jacek Olczak said PMI delivered another exceptional year in 2025. He pointed to the company’s continued leadership in smoke-free products and steady growth across its portfolio. Smoke-free product volumes increased by 12.8%, while organic smoke-free gross profit rose 18.7%. This showed that these products are not only growing but also becoming more profitable.

Olczak said IQOS remained the company’s main growth driver. Shipment volumes and adjusted in-market sales both increased by around 11%. He also noted that PMI expanded its smoke-free product presence to 106 markets, reflecting the company’s ongoing global rollout. He also discussed progress under PMI’s multi-category strategy. Shipment volumes for ZYN outside the Nordic region and VEEV in international markets more than doubled. ZYN gained meaningful market share in several regions, while VEEV became the fastest-growing closed pod brand globally.

Philip Morris International Inc. (NYSE:PM) operates as a global tobacco company. Its product portfolio includes cigarettes and a growing range of smoke-free products. The smoke-free business also includes wellness and healthcare products, along with consumer accessories such as lighters and matches.

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