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Fly News Breaks for June 16, 2015
RAI
Jun 16, 2015 | 07:42 EDT
Goldman reinstated Reynold American with a Buy rating and added it to the Conviction Buy List and an $81 price target. Following the Lorillard acquisition, The firm believe the new Reynolds has potential for geographic expansion for Newport and the Santa Fe brand, and better pricing power and cost synergies will result in operating margin expansion and earnings growth.
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