Consumer-goods editor and analyst Austin Smith takes a bullish perspective on Phillip Morris. The company still has the world’s strongest tobacco brand, with Marlboro controlling 28% of the global market share. Top brands allow Phillip Morris to charge premium prices and have margins topping competitor Altria. Phillip Morris' continued growth is amazing given its huge size, as its international focus has allowed it to avoid much of the domestic taxation and regulation of the tobacco industry. With its plans for $18 billion in share buybacks over the next three years, perhaps you should follow the company's lead and buy Phillip Morris stock.
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