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"Perhaps most worrying is the recruitment and grooming of young people

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In terms of the outlook, the industry is also optimistic about the continued rollout of next-generation [e-cigarette, vaping, etc.] products. Christopher Growe, an analyst at Stifel Nicolaus, is especially bullish on Philip Morris, noting that the company recently forecast greater than 5% revenue growth and greater than 9% earnings growth over the next three years setting Philip Morris apart from its tobacco peers and placing it in the top-tier of all consumer staples companies