Goldman Sachs Downgrades Lorillard (LO) to Neutral
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Price: $71.40 --0%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs downgraded Lorillard (NYSE: LO) from Buy to Neutral with a price target of $123. The downgrade was in conjunction with the addition of Beam (NYSE: BEAM) to the Conviction Buy List.
The firm said while they remain constructive on LO's fundamentals and solid cash return story, they are "incrementally more concerned about US cigarette fundamentals and the lingering menthol overhang could limit an upward re-rating in LO's multiples."
For more ratings news on Lorillard click here and for the rating history of Lorillard click here.
Shares of Lorillard closed at $112.95 yesterday.
The firm said while they remain constructive on LO's fundamentals and solid cash return story, they are "incrementally more concerned about US cigarette fundamentals and the lingering menthol overhang could limit an upward re-rating in LO's multiples."
For more ratings news on Lorillard click here and for the rating history of Lorillard click here.
Shares of Lorillard closed at $112.95 yesterday.
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