Cowen Initiates Lorillard At Underperform

Cowen & Company initiated coverage on shares of Lorillard LO with a Underperform rating. The target price for Lorillard is set to $57. Lorillard shares have jumped 36.65% over the past 52 weeks, while the S&P 500 index has surged 16.93% in the same period. Lorillard's shares gained 4.31% to $65.81 in pre-market trading.