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Philip Morris International, Inc. (NYSE:PM), the producer top cigarette brand Marlboro, introduced heat-not-burn (HNB) tobacco products last year. PM has even partnered with Altria Group , Inc. (NYSE:MO) to make HNB products. However, the U.S. Food and Drug Association (FDA) has not granted approval to replace HNBs with regular cigarettes. So, we think it would be best to avoid PM for now.
As an alternative in sector, we think investors should focus on companies that have viable product pipelines, such as British American Tobacco PLC (BTI) and Vector Group Ltd . (VGR). These stocks have the potential to perform better than PM in the near term.
