5 Best Bargain Stocks to Buy in August

3. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 55

Upside Potential as of August 1: 19.07%

Average Price Target: $117

We saw 55 hedge funds long Philip Morris International Inc (NYSE:PM) in the first quarter. Their total stake value in the company was $5.9 billion.

Pamela Kaufman at Morgan Stanley holds an Overweight rating and a $118 price target on Philip Morris International Inc (NYSE:PM) shares as of June 27.

Philip Morris International Inc (NYSE:PM) is a tobacco company. It is based in Stamford, Connecticut.

Ariel Investments made the following comment about Philip Morris International Inc (NYSE:PM) in its first-quarter 2023 investor letter:

“Finally, tobacco maker, Philip Morris International Inc. (NYSE:PM) declined in the period on concerns related to supply-chain disruptions resulting from the war in Ukraine, which we view as temporary. We believe the favorable economics and margin expansion associated with market share gains from the IQOS brand and Reduced Risk Products should yield value creation opportunities in the years ahead. Furthermore, at current trading levels, we think the company’s operating leverage, pricing power, and free cash flow profile offer a margin of safety.”

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