11-26-2013, 01:32 PM
I agree that it could drift lower from here, but I am not positive either way. The recent negatives may set very low expectations going forward, such that even neutral to slightly positive news could provide catalyst for a bounce.
That said, this episode may well test whether PM has deserved or will maintain the premium that it has enjoyed in the past over its tobacco company peers.
NilesMike -- looks like you should have had no trouble getting filled at $86, as the price even made it below $85 today. Since then it has been working its way back up and is now down less than half a percent on the day. I'm definitely interested in PM at prices below $86, but I already own quite a bit of it. If prices do go lower, though, I may feel compelled to add. I still count the tobacco stocks as some of the safest dividend growth stocks for the long term.
That said, this episode may well test whether PM has deserved or will maintain the premium that it has enjoyed in the past over its tobacco company peers.
NilesMike -- looks like you should have had no trouble getting filled at $86, as the price even made it below $85 today. Since then it has been working its way back up and is now down less than half a percent on the day. I'm definitely interested in PM at prices below $86, but I already own quite a bit of it. If prices do go lower, though, I may feel compelled to add. I still count the tobacco stocks as some of the safest dividend growth stocks for the long term.