PM's smoke-free products drive growth; Buy recommended on dips between $150-$180.

Philip Morris is showing strong growth with 43% of its sales now from smoke-free products like IQOS, ZYN, and VEEV, which are growing rapidly in some regions. This growth supports management's target of 10% annual adjusted EPS growth over three years, helping offset risks from declining cigarette sales amid inflation pressures. With a price-to-earnings ratio of 21.26 and a solid dividend yield of 3.21%, the stock is seen as a good buy on moderate price corrections around $165, especially for swing traders.