Is Philip Morris Stock a Buy?

When the stock market gets turbulent, investors often turn to companies that specialize in consumer staples. Demand for the items that millions of people need regularly tends to hold up well even under economic stress, and that's held especially true during the coronavirus pandemic.

Tobacco companies aren't quite immune to economic impacts, though, and Philip Morris International (NYSE: PM) hasn't held up nearly as well as some companies in the food and household products categories. For Philip Morris, a long transition away from traditional cigarettes toward reduced-risk alternatives has taken investors for a bumpy ride, but the company remains hopeful that its long-term strategy remains sound. Let's look more closely at the tobacco giant to see if Philip Morris stock is a good buy.