Deutsche Bank Maintains a 'Hold' on Lorillard (LO); Giving Estimates a Lift
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Price: $43.74 -2.63%
Rating Summary:
3 Buy, 5 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
3 Buy, 5 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade LO Now!
Deutsche Bank maintains a 'Hold' on Lorillard (NYSE: LO) price target of $131.00 (from $130.00).
Analyst, Andrew Kieley, said, "We are slightly raising estimates based on today’s debt offering, higher leverage target, and share repurchase expectation. We had recently reduced repurchase estimates based on lack of activity, but now assume $500m for FY12 and $700m for 2013. We maintain FY12 EPS at $8.58, raise FY13 $0.02 to $9.39."
"As investors continue to await word on FDA’s menthol review, we note that a recent flurry of FDA conference appearances and press releases on underage tobacco use has not explicitly mentioned menthol at all. We take this as a somewhat positive indicator (and company’s actions today may signal some added confidence), though visibility on FDA intentions remains low."
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 $129.00 yesterday, with a 52 week range of $100.76-$141.07.
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Analyst, Andrew Kieley, said, "We are slightly raising estimates based on today’s debt offering, higher leverage target, and share repurchase expectation. We had recently reduced repurchase estimates based on lack of activity, but now assume $500m for FY12 and $700m for 2013. We maintain FY12 EPS at $8.58, raise FY13 $0.02 to $9.39."
"As investors continue to await word on FDA’s menthol review, we note that a recent flurry of FDA conference appearances and press releases on underage tobacco use has not explicitly mentioned menthol at all. We take this as a somewhat positive indicator (and company’s actions today may signal some added confidence), though visibility on FDA intentions remains low."
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 $129.00 yesterday, with a 52 week range of $100.76-$141.07.
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