Philip Morris International Inc. (PM.US) is considering selling its U.S. cigar business.

Philip Morris International Inc. (PM.US) may be seeking to sell its U.S. cigar business. As part of the 2023 acquisition of Swedish Match company, Philip Morris International Inc. took over the cigar business. Sources say that the potential sale is part of the company's strategy to focus on smoke-free products and reduce reliance on traditional tobacco products. Currently, Philip Morris International Inc. is working with advisors to identify buyers interested in the assets of the U.S. cigar business. If a deal is reached, the company expects the transaction price to exceed $1 billion. Philip Morris International Inc. released a statement on the developments, stating: "In 2024, we announced a strategic assessment of our U.S. cigar business. We do not have any new updates at this time." Currently, both Seeking Alpha analysts and Wall Street analysts unanimously give Philip Morris International Inc. a "buy" rating.