Goldman Sachs Reiterate Bullish Stance On Lorillard (LO) On Latest Price Increase

November 30, 2010 9:17 AM EST
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Price: $71.40 --0%

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Lorillard, Inc. (NYSE: LO) raised the list price for Newport (menthol only), Kent, and True by about 1.5% or $3.00 per thousand, according to analysts at Goldman Sachs.

This is the third cigarette price increase of the year and highlights the pricing power of Newport, according to the firm.

The latest price increases will take effect Tuesday, November 30.

The firm reiterated their Conviction Buy List rating and $100 price target on Lorillard.


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