UBS Reiterates a 'Buy' on Lorillard (LO); Raising Estimates & PT After Strong Qtr
LO Hot Sheet
Rating Summary:3 Buy, 5 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 7 | New: 26
UBS reiterates a 'Buy' on Lorillard (NYSE: LO) price target raised from $124 to $140.
UBS analyst says, "Fundamental Buy Thesis is On Target: We continue to believe there is more upside to Lorillard's EPS (via its more aggressive Newport expansion initiative). And while we continue to recommend investors own LO shares, we caution that trading could be choppy in the near-term (as FDA headlines still loom)."
"We are raising our FY 2012 EPS estimate from $8.62 to $8.94 (consensus $8.54—but likely to move up as well), partly driven by today’s beat, but also due to higher buy back assumptions and slightly higher volume growth."
For an analyst ratings summary and ratings history on Lorillard click here. For more ratings news on Lorillard click here.
Shares of Lorillard closed at $124.37 yesterday, with a 52 week range of $75.77-$127.68.
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UBS analyst says, "Fundamental Buy Thesis is On Target: We continue to believe there is more upside to Lorillard's EPS (via its more aggressive Newport expansion initiative). And while we continue to recommend investors own LO shares, we caution that trading could be choppy in the near-term (as FDA headlines still loom)."
"We are raising our FY 2012 EPS estimate from $8.62 to $8.94 (consensus $8.54—but likely to move up as well), partly driven by today’s beat, but also due to higher buy back assumptions and slightly higher volume growth."
For an analyst ratings summary and ratings history on Lorillard click here. For more ratings news on Lorillard click here.
Shares of Lorillard closed at $124.37 yesterday, with a 52 week range of $75.77-$127.68.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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