3 Reasons to Buy Philip Morris International
With the S&P 500 down 14% year to date, 2022 hasn't been kind to many stock market investors. But international tobacco giant, Philip Morris International (NYSE: PM), has weathered the storm better than most, with its stock up 2% over the period.
Let's discuss why the company can continue outperforming over the long term.
According to a Bloomberg report, the U.S. has a 38% chance of entering a recession within 12 months, which could negatively impact many businesses. As a tobacco company, Philip Morris is highly shielded from these challenges because nicotine products are habit-forming, and consumers will likely continue buying them in a weak economy.
Source Fool.com
