Goldman Sachs Downgrades Reynolds American to Neutral with Price Target $53.00

Brokerage firm Goldman Sachs Downgrades its rating on Reynolds American(NYSE:RAI). In a research note issued to the investors, the brokerage major Lowers the price-target to $53.00 per share. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Goldman Sachs was issued on Sep 12, 2016.

In a different note, UBS said it Initiates Coverage on Reynolds American, according to a research note issued on Aug 25, 2016. The shares have been rated ‘Neutral’ by the firm. On Aug 8, 2016, CLSA said it Upgrades its rating on Reynolds American. The shares have been rated ‘Outperform’ by the firm.

Reynolds American (RAI) made into the market gainers list on Tuesdays trading session with the shares advancing 0.59% or 0.28 points. Due to strong positive momentum, the stock ended at $47.66, which is also near the day’s high of $47.88. The stock began the session at $47.62 and the volume stood at 27,93,334 shares. The 52-week high of the shares is $54.48 and the 52 week low is $41.91. The company has a current market capitalization of $68,027 M and it has 1,42,73,41,200 shares in outstanding.

Reynolds American(RAI) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.19B. Analysts had an estimated revenue of $3.26B. Earnings per share were $0.58. Analysts had estimated an EPS of $0.61.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Susan M. Cameron (President and CEO) sold 105,766 shares at $49.88 per share price.Also, On May 9, 2016, Thomas C Wajnert (director) sold 5,000 shares at $49.82 per share price.On Mar 15, 2016, Nancy H. Hawley (EVP – Operations of RJRT) sold 6,817 shares at $51.59 per share price, according to the Form-4 filing with the securities and exchange commission.

Reynolds American Inc. (RAI) is a holding company. The Company operates through three segments: RJR Tobacco American Snuff and Santa Fe. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The American Snuff segment consists of the primary operations of American Snuff Co. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company Inc. (SFNTC). The Company’s wholly owned subsidiaries include R. J. Reynolds Tobacco Company American Snuff Company LLC (American Snuff Co.) Lorillard Inc. Santa Fe Natural Tobacco Company Inc. (SFNTC) R. J. Reynolds Vapor Company (RJR Vapor) Niconovum USA Inc. and Niconovum AB.

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