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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Valueman who wrote (2017)	7/28/1998 11:34:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 6439

NEW YORK, July 28 (Reuters) - Morgan Stanley (corrects name)analyst David Adelman made bullish comments on Philip Morris Cos. Inc. (MO - news) on Tuesday, saying he believes the stock will significantly outperform the stock market over the next 12 months. -- Shares rose 11/16 to 43 in early trading. -- Adelman believes ''the litigation tide has turned,'' that the remaining state Medicaid lawsuits are likely to be settled, the company has a ''compelling'' valuation and strong fundamentals. -- He also cited declining ''Congressional risk'' and said the company is likely to restart its stock buyback program. -- Estimates remain unchanged at $3.15 for 1998 and $3.60 for 1999. Price traget is $50.