Deutsche Bank Has Hold Rating On Lorillard

Deutsche Bank has a Hold rating and a $98 price target on shares of Lorillard LO. In a note to clients, Deutsche Bank writes, "TMA convention focused on challenge of becoming a highly-regulated industry, FDA still interpreting its mandate and no major decisions yet to show its disposition With litigation stable and no major disruptions from FDA thus far, it is a reminder, in light of full sector valuation (8.5x), that regulatory evolution brings potential for shocks, as FDA starts making product decisions Managing FDA. Despite challenges building internal capabilities, industry acknowledges FDA as responsive, and Big Three are well-equipped, though it is critical they build non-antagonistic relationships." Shares of LO lost $2.37 yesterday to close at $113.87.