UPDATE: Jefferies Raises PT on Lorillard Following Analyst Day Presentation

In a report published Friday, Jefferies analyst Thilo Wrede reiterated a Buy rating on Lorillard LO, and raised the price target from $48.00 to $50.00.

In the report, Jefferies noted, “At today's analyst day LO presented a very spirited and detailed argument why scientific evidence does not support a menthol ban. This is in line with our view that a ban is ultimately unlikely – however, we are aware that the ongoing uncertainty will continue to create an overhang. While a large part of the Q&A today was focused on e-cigs, we see the introduction as Newport Gold as a much more meaningful near term growth driver.”

Lorillard closed on Thursday at $43.58.