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Philip Morris is currently at around $38. Hopefully the price will sink to 30-35 range. At this rate, the P/E for this stock will be around or slightly less than 7 With a $2.56 dividend, this stock is a good deal.
The downside, of course, is the pending tobacco lawsuits and also lopsided performance of its non-tobacco portfolio companies.
In the long run, this is a "buy and hold" stock.
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