UPDATE: Bank of America Transfers Coverage on Reynolds American at Neutral

According to Bank of America, Reynolds American

coverage is transferred at Neutral. Bank of America said that it is transferring coverage with a Neutral and $40 price objective. “Over the past 7 years, RAI has made significant progress streamlining the cigarette portfolio and driving out costs, while Pall Mall and Grizzly have been real success stories.” Reynolds American closed yesterday at $41.15.