Jefferies Cuts Estimates on Lorillard (LO); Another Miss
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Price: $71.40 --0%
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 10 | New: 43
Rating Summary:
3 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 10 | New: 43
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Jefferies maintains a 'Buy' on Lorillard (NYSE: LO) price target of $144.00.
Analyst, Thilo Wrede, said, "For the 2nd quarter in a row LO missed expectations, reporting adj. EPS of $2.19 vs. our and cons. estimate of $2.32. Unlike peers, LO accelerated pricing significantly and achieved the group’s best realization of announced price increases. However, volume was hurt by promotional pressures. We expect a performance improvement in 2H12 due to easier comps and maintain our view of LO having the best fundamentals in the group."
FY12 EPS estimate lowered from $8.57 to $8.45 and FY13 from $9.47 to $9.27.
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 $128.79 yesterday.
Analyst, Thilo Wrede, said, "For the 2nd quarter in a row LO missed expectations, reporting adj. EPS of $2.19 vs. our and cons. estimate of $2.32. Unlike peers, LO accelerated pricing significantly and achieved the group’s best realization of announced price increases. However, volume was hurt by promotional pressures. We expect a performance improvement in 2H12 due to easier comps and maintain our view of LO having the best fundamentals in the group."
FY12 EPS estimate lowered from $8.57 to $8.45 and FY13 from $9.47 to $9.27.
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 $128.79 yesterday.
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