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Stock Market & Financial Investment News

News Breaks
March 10, 2014
06:12 EDTRAI, BTIReynolds American target raised to $66, added to Focus List at Citigroup
Citigroup raised its price target for Reynolds American (RAI) shares to $66 from $58 and added the stock to its U.S. Focus List following meetings with management. Citi's new target assumes the possibility that British American Tobacco (BTI) could purchase the remaining 58% of Reynolds it does not already own at a price of $70 per share. Citi keeps a Buy rating on the stock.
News For RAI;BTI From The Last 14 Days
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January 25, 2015
17:53 EDTBTI, RAIWorries persist on Reynolds-Lorillard deal getting FTC approval, WSJ says
Shareholders are expected to approve the combination of tobacco companies Reynolds-American (RAI) and Lorillard (LO) this week but the real concern for the deal that will result in a formidable competitor to rival Marlboro maker and market leader Altria Group (MO) is whether the FTC approves of the deal, says the Wall Street Journal. British American Tobacco (BTI), which owns 42% of Reynolds, agreed to vote for the deal which will make the third party to the deal, Imperial Tobacco Group (ITYBY), the No. 3 player in the U.S.,as Imperial agreed to pay $7B for Reynolds’ Winston, Salem and Kool brands and Lorillard’s Maverick cigarette and Blu e-cigarette brands, added the Wall Street Journal report. Reference Link
January 21, 2015
09:32 EDTRAIReynolds American to host special shareholder meeting
Special shareholder meeting to approve the issuance of shares of common stock to Lorillard shareholders as consideration in the merger of the two companies will be held on January 28 at 9 am.
January 20, 2015
10:44 EDTRAIWells sees tobacco stocks as 'place to be' for 2015
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07:21 EDTRAIWells Fargo calls Tobacco 'place to be,' upgrades Altria Group
Wells Fargo calls the U.S. Tobacco sector the "place to be" in consumer staples in 2015. Wells lists positive catalysts for the group as stronger pricing power, protection from currency risk and upside potential from e-cigarettes. The firm says Reynolds American (RAI) remains its top pick and it raised its price target range for shares to $79-$81 from $69-$71. Wells upgraded Altria Group (MO) to Outperform from Market Perform with an increased price target range of $56-$58. The firm also has an Outperform rating on Lorillard (LO). Wells has a "high conviction" that Reynolds' deal with Lorillard will be approved by the FTC in March or April.

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