Wells Fargo Starts Reynolds American (RAI) at Outperform; At An Inflection Point--Tailwinds Are At RAI's Back
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Price: $65.40 --0%
Rating Summary:
3 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo initiates coverage on Reynolds American (NYSE: RAI) with an Outperform. Valuation range is $38-40.
Wells analyst says, "We believe Reynolds has transformed itself and is now at an inflection point. The company has spent the past few years laying the
groundwork and changing the rules of the game by becoming the first major
tobacco company to implement a full tobacco strategy. In our opinion, Reynolds has been acting more like a thought leader in the tobacco industry. Reynolds has transformed itself into a much leaner, more focused, total tobacco company, in our view. The time is now and the tailwinds are at the company’s back. We believe Reynolds is now in a position to fully execute on its strategy, which should allow it to generate greater returns for shareholders."
For more ratings news on Reynolds American click here and for the rating history of Reynolds American click here.
Shares of Reynolds American closed at $37.87 yesterday.
Wells analyst says, "We believe Reynolds has transformed itself and is now at an inflection point. The company has spent the past few years laying the
groundwork and changing the rules of the game by becoming the first major
tobacco company to implement a full tobacco strategy. In our opinion, Reynolds has been acting more like a thought leader in the tobacco industry. Reynolds has transformed itself into a much leaner, more focused, total tobacco company, in our view. The time is now and the tailwinds are at the company’s back. We believe Reynolds is now in a position to fully execute on its strategy, which should allow it to generate greater returns for shareholders."
For more ratings news on Reynolds American click here and for the rating history of Reynolds American click here.
Shares of Reynolds American closed at $37.87 yesterday.
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