Lorillard, Inc. (NYSE:LO) has given Goldman Sachs (NYSE:GS) continuing reason to be bullish on them, as they announced they're raising their list price on Newport (menthol only), Kent, and True by about 1.5% or $3.00 per thousand, according to Goldman.
The Newport brand continues to hold inherent pricing power, generating much of the bullishness on the stock, which has raised prices on it for the third time in 2010.
Goldman keeps a "Conviction Buy List" rating on Lorillard, which closed Tuesday at $79.58, falling by $2.05, or 2.51 percent. Goldman has a price target of $100 on them.
Volume was just under twice the 3-month average yesterday.
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