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Fly News Breaks for April 15, 2015
LO, MO, RAI
Apr 15, 2015 | 08:01 EDT
After recently conducting a survey of tobacco retailer and wholesaler contacts representing about 36,000 convenience stores in the U.S., Wells Fargo says that U.S. cigarette sales volume was "surprisingly strong," while pricing momentum likely continued last quarter. The firm expects manufacturers to all report low double digit percentage Q1 EPS growth. Well reiterates its Overweight rating on the sector and identifies Reynolds 9RAI) as its top pick in the space. Other names in the space include Altria Group (MO) and Lorillard (LO).
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