“Recall in Jun 18, PMI had slashed prices for its IQOS kits by 30% to 7,980 yen/unit, which could have helped sales,” says analyst Foo Zhi Wei in a Tuesday report.
SINGAPORE (Oct 2): UOB Kay Hian is maintaining its “hold” call on Venture Corporation with a recommended entry price of $16 and target price of $18.20, which is pegged to 14 times 2018F P/E.
The research house’s rating reiteration follows Philip Morris International’s (PMI) Investor Day 2018 last week, which revealed a pickup in sales of IQOS (I quit ordinary smoking) smoke-free electronic devices with approximately 1.8 million IQOS units sold in 2Q18 and 1.7 million units sold in the first two months of the subsequent quarter.
