Goldman Sachs Updates Reynolds American Following Stock Split

Goldman has updated its estimates for Reynolds American RAI 2:1 stock split. The adjusted 2010/2011/2012 estimates are $2.51/$2.65/$2.74 from $5.03/$5.30/$5.49. There is no change to its investment thesis or rating. Goldman's 12-month P/E based price target is now $31 from $62 to reflect the stock split.the disclosure section of this document. RAI closed Tuesday at $32.04