Jefferies Maintains a 'Hold' on Reynolds American (RAI); Cigarette Business was Underwhelming
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Price: $65.40 --0%
Rating Summary:
3 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
3 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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Jefferies maintains a 'Hold' on Reynolds American (NYSE: RAI) price target of $46.00 (from $42.00).
Analyst, Thilo Wrede, said, "In a challenging tobacco environment RAI’s 2Q12 adj. EPS of $0.79 beat our forecast by 1 cent, helped by a low tax rate. The cigarette business was underwhelming, as the promotional environment seems to remain very competitive. However, Grizzly and Native American Spirit continue to perform well, partially offsetting the RJRT challenges. We do not see any improvement in the competitive behavior in the near term."
FY12 EPS estimate raised from $2.97 to $2.99 and FY13 from $3.21 to $3.22.
For an analyst ratings summary and ratings history on Reynolds American click here. For more ratings news on Reynolds American click here.
Shares of Reynolds American closed at $45.41 yesterday.
Analyst, Thilo Wrede, said, "In a challenging tobacco environment RAI’s 2Q12 adj. EPS of $0.79 beat our forecast by 1 cent, helped by a low tax rate. The cigarette business was underwhelming, as the promotional environment seems to remain very competitive. However, Grizzly and Native American Spirit continue to perform well, partially offsetting the RJRT challenges. We do not see any improvement in the competitive behavior in the near term."
FY12 EPS estimate raised from $2.97 to $2.99 and FY13 from $3.21 to $3.22.
For an analyst ratings summary and ratings history on Reynolds American click here. For more ratings news on Reynolds American click here.
Shares of Reynolds American closed at $45.41 yesterday.
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