Among well-known blue chip stocks, Philip Morris International (NYSE: PM) has a relatively short history as a public company, hearkening back to its spinoff from former parent Altria in early 2008. But as a subsidiary of the entity that bore the Philip Morris name before changing its name to Altria a decade ago, Philip Morris International was first incorporated in 1987 and has an even longer history as the Philip Morris Overseas division of its larger parent.
Over that time, the tobacco industry has gone through a huge transformation. Prevailing attitudes in the U.S. have grown increasingly hostile toward smoking, and so that has made international markets – especially those that have less regulation – look more attractive than the U.S. market for cigarette manufacturers. Now, Philip Morris International is considerably larger than its U.S. counterpart by nearly every measure — and arguably has greater potential to draw new customers from across the globe.
Fool contributor Dan Caplinger has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above.
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